Fortrea (FTRE) Projected to Post Earnings on Monday

Fortrea (NASDAQ:FTRE) is expected to be issuing its quarterly earnings data before the market opens on Monday, March 3rd. Analysts expect the company to announce earnings of $0.36 per share and revenue of $703.22 million for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Fortrea Stock Down 4.7 %

Shares of FTRE stock opened at $14.88 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.74. The stock has a market cap of $1.33 billion, a P/E ratio of -4.35, a PEG ratio of 1.78 and a beta of 1.20. Fortrea has a 52 week low of $14.27 and a 52 week high of $41.02. The company’s fifty day simple moving average is $17.45 and its two-hundred day simple moving average is $19.47.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Baird R W lowered Fortrea from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 6th. TD Cowen boosted their target price on Fortrea from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Robert W. Baird cut shares of Fortrea from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $28.00 to $25.00 in a research report on Friday, December 6th. William Blair reiterated a “market perform” rating on shares of Fortrea in a research report on Friday, November 8th. Finally, Citigroup cut shares of Fortrea from a “buy” rating to a “neutral” rating and cut their price objective for the company from $30.00 to $23.00 in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to data from MarketBeat.com, Fortrea presently has a consensus rating of “Hold” and an average target price of $23.30.

Insiders Place Their Bets

In other Fortrea news, CEO Thomas Pike sold 11,268 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $18.04, for a total transaction of $203,274.72. Following the transaction, the chief executive officer now directly owns 159,868 shares in the company, valued at $2,884,018.72. This represents a 6.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 12,386 shares of company stock worth $219,751 in the last three months. Corporate insiders own 0.12% of the company’s stock.

Fortrea Company Profile

Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.