SG Americas Securities LLC Raises Stock Holdings in Fortrea Holdings Inc. $FTRE

SG Americas Securities LLC lifted its holdings in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 245.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,228 shares of the company’s stock after purchasing an additional 108,925 shares during the quarter. SG Americas Securities LLC owned 0.17% of Fortrea worth $2,643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada lifted its position in Fortrea by 48.9% during the first quarter. Royal Bank of Canada now owns 121,707 shares of the company’s stock valued at $920,000 after purchasing an additional 39,944 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Fortrea during the 1st quarter valued at $196,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Fortrea by 10.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 282,780 shares of the company’s stock valued at $2,135,000 after buying an additional 27,746 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Fortrea during the 1st quarter worth $80,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Fortrea during the 1st quarter worth $65,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays reduced their target price on Fortrea from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a research report on Thursday, January 22nd. Wedbush set a $21.00 price objective on Fortrea in a report on Thursday, December 11th. Citigroup upgraded Fortrea from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $12.00 to $21.00 in a research report on Thursday, December 11th. Finally, Truist Financial set a $22.00 target price on Fortrea and gave the stock a “buy” rating in a research note on Thursday, January 8th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.15.

Fortrea Price Performance

Shares of NASDAQ:FTRE opened at $9.45 on Friday. The stock has a market capitalization of $883.58 million, a P/E ratio of -0.87, a price-to-earnings-growth ratio of 0.34 and a beta of 1.80. The stock’s 50-day moving average price is $11.34 and its 200-day moving average price is $12.37. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.86. Fortrea Holdings Inc. has a 12-month low of $3.97 and a 12-month high of $18.67.

Fortrea (NASDAQ:FTRE) last released its earnings results on Thursday, February 26th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). Fortrea had a negative net margin of 36.21% and a positive return on equity of 6.23%. The company had revenue of $660.50 million during the quarter, compared to the consensus estimate of $665.22 million. On average, equities analysts anticipate that Fortrea Holdings Inc. will post 0.51 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Jill G. Mcconnell sold 5,061 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $9.07, for a total transaction of $45,903.27. Following the completion of the sale, the chief financial officer owned 69,796 shares of the company’s stock, valued at approximately $633,049.72. This represents a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 9,673 shares of company stock valued at $92,242 in the last ninety days. Insiders own 0.38% of the company’s stock.

Fortrea Profile

Fortrea, Inc is a global contract development and manufacturing organization (CDMO) that provides integrated solutions for pharmaceutical and biotechnology companies. Established as a spin-off from Thermo Fisher Scientific’s Pharma Services business in October 2023, Fortrea leverages a legacy of scientific expertise and manufacturing scale to support drug development from early-stage research through commercial production. The company’s comprehensive offerings address the complex needs of both small-molecule and biologics programs, making it a single source for clients seeking to accelerate timelines and manage costs.

Fortrea’s core services encompass analytical and formulation development, process optimization, clinical and commercial manufacturing, and packaging services.