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

Fortrea Holdings Inc. (NASDAQ:FTRE) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $16.75.

FTRE has been the subject of several research analyst reports. Evercore set a $25.00 target price on Fortrea and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Robert W. Baird set a $19.00 target price on shares of Fortrea in a research report on Wednesday, January 14th. TD Cowen upped their price target on shares of Fortrea from $7.00 to $15.00 and gave the stock a “hold” rating in a research report on Thursday, January 22nd. Citigroup upgraded Fortrea from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $21.00 in a research note on Thursday, December 11th. Finally, Wall Street Zen lowered Fortrea from a “buy” rating to a “hold” rating in a research note on Monday, October 27th.

Hedge Funds Weigh In On Fortrea

Several large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC grew its stake in Fortrea by 1.7% during the 4th quarter. Sanctuary Advisors LLC now owns 36,648 shares of the company’s stock worth $632,000 after purchasing an additional 627 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Fortrea by 3.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,166 shares of the company’s stock valued at $365,000 after buying an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Fortrea by 27.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock worth $77,000 after buying an additional 980 shares in the last quarter. Amalgamated Bank increased its stake in shares of Fortrea by 4.0% during the third quarter. Amalgamated Bank now owns 26,688 shares of the company’s stock worth $225,000 after buying an additional 1,026 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Fortrea by 136.7% in the fourth quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock valued at $32,000 after acquiring an additional 1,072 shares in the last quarter.

Fortrea Trading Down 0.9%

Shares of Fortrea stock opened at $9.70 on Wednesday. The firm’s 50 day simple moving average is $16.01 and its two-hundred day simple moving average is $12.16. The firm has a market capitalization of $896.28 million, a price-to-earnings ratio of -0.86, a PEG ratio of 0.29 and a beta of 1.59. Fortrea has a 12-month low of $3.97 and a 12-month high of $18.67. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.81.

About Fortrea

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.