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

Fortrea Holdings Inc. (NASDAQ:FTRE) has been assigned an average rating of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $16.05.

Several equities analysts have weighed in on FTRE shares. Truist Financial set a $22.00 target price on shares of Fortrea and gave the company a “buy” rating in a report on Thursday, January 8th. Robert W. Baird dropped their target price on shares of Fortrea from $19.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, February 27th. TD Cowen upgraded shares of Fortrea from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Monday, March 9th. Evercore set a $25.00 price objective on Fortrea and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Finally, Mizuho set a $15.00 price objective on Fortrea in a research report on Friday, January 9th.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Fortrea

Several large investors have recently added to or reduced their stakes in FTRE. Eagle Health Investments LP acquired a new stake in Fortrea during the third quarter worth about $8,325,000. Bank of Nova Scotia acquired a new stake in Fortrea during the second quarter worth about $5,087,000. Allianz Asset Management GmbH increased its stake in Fortrea by 20.0% during the third quarter. Allianz Asset Management GmbH now owns 305,008 shares of the company’s stock worth $2,568,000 after acquiring an additional 50,902 shares during the last quarter. Ausbil Investment Management Ltd increased its stake in Fortrea by 587.2% during the fourth quarter. Ausbil Investment Management Ltd now owns 224,713 shares of the company’s stock worth $3,876,000 after acquiring an additional 192,015 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in Fortrea during the third quarter worth about $4,557,000.

Fortrea Stock Up 4.8%

Fortrea stock opened at $10.05 on Thursday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.98 and a quick ratio of 0.98. Fortrea has a 1-year low of $3.97 and a 1-year high of $18.67. The company has a market cap of $939.68 million, a PE ratio of -0.92, a price-to-earnings-growth ratio of 0.35 and a beta of 1.80. The stock’s 50 day moving average price is $10.18 and its 200 day moving average price is $12.37.

Fortrea (NASDAQ:FTRE) last posted its quarterly 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 business had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $665.22 million. On average, sell-side analysts predict that Fortrea will post 0.51 EPS for the current fiscal year.

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.