Fortrea Holdings Inc. (NASDAQ:FTRE) Receives Consensus Rating of “Hold” from Analysts

Fortrea Holdings Inc. (NASDAQ:FTRE) has earned a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $16.75.

A number of brokerages recently issued reports on FTRE. Mizuho set a $15.00 price objective on shares of Fortrea in a report on Friday, January 9th. Truist Financial set a $22.00 price target on shares of Fortrea and gave the company a “buy” rating in a research note on Thursday, January 8th. Wall Street Zen downgraded shares of Fortrea from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Robert W. Baird set a $19.00 price objective on Fortrea in a report on Wednesday, January 14th. Finally, Zacks Research cut Fortrea from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th.

Fortrea Price Performance

NASDAQ:FTRE opened at $16.83 on Friday. Fortrea has a one year low of $3.97 and a one year high of $18.67. The stock has a market cap of $1.56 billion, a PE ratio of -1.50, a P/E/G ratio of 0.51 and a beta of 1.59. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $15.39 and a 200 day moving average price of $11.04.

Fortrea (NASDAQ:FTRE) last issued its earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.04). Fortrea had a negative net margin of 36.77% and a positive return on equity of 5.64%. The company had revenue of $701.30 million during the quarter, compared to analysts’ expectations of $643.43 million. Equities research analysts expect that Fortrea will post 0.51 EPS for the current fiscal year.

Institutional Trading of Fortrea

Several institutional investors and hedge funds have recently bought and sold shares of FTRE. Brandes Investment Partners LP lifted its stake in Fortrea by 72.8% during the 2nd quarter. Brandes Investment Partners LP now owns 224,272 shares of the company’s stock worth $1,108,000 after acquiring an additional 94,448 shares in the last quarter. Bank of Nova Scotia purchased a new stake in Fortrea during the second quarter worth about $5,087,000. Allianz Asset Management GmbH lifted its position in shares of Fortrea by 335.1% during the second quarter. Allianz Asset Management GmbH now owns 254,106 shares of the company’s stock worth $1,255,000 after purchasing an additional 195,706 shares in the last quarter. Brighton Jones LLC purchased a new position in shares of Fortrea in the second quarter valued at approximately $156,000. Finally, ProShare Advisors LLC acquired a new position in shares of Fortrea in the second quarter valued at approximately $117,000.

Fortrea Company 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.