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

Fortrea Holdings Inc. (NASDAQ:FTRE) has been given an average recommendation of “Moderate Buy” by the eleven analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $17.75.

Several analysts have recently issued reports on FTRE shares. Truist Financial set a $19.00 price objective on Fortrea in a research note on Wednesday, May 6th. Wall Street Zen raised Fortrea from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. Citigroup upped their price target on Fortrea from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $14.00 price target on shares of Fortrea in a research report on Thursday, May 7th. Finally, Robert W. Baird set a $20.00 price objective on Fortrea in a research note on Wednesday, May 6th.

Fortrea Price Performance

Fortrea stock opened at $17.76 on Friday. The firm has a market cap of $1.68 billion, a PE ratio of -3.62, a price-to-earnings-growth ratio of 0.54 and a beta of 2.03. Fortrea has a 52-week low of $4.45 and a 52-week high of $18.67. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.98. The company’s 50 day moving average is $16.00 and its two-hundred day moving average is $13.70.

Fortrea (NASDAQ:FTRE) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.03 by $0.13. The business had revenue of $636.50 million during the quarter, compared to the consensus estimate of $628.50 million. Fortrea had a negative net margin of 16.50% and a positive return on equity of 9.51%. On average, research analysts expect that Fortrea will post 0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Fortrea by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 8,331,016 shares of the company’s stock worth $143,710,000 after acquiring an additional 258,098 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Fortrea by 3.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,272,597 shares of the company’s stock worth $142,702,000 after purchasing an additional 293,992 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Fortrea by 494.8% during the second quarter. AQR Capital Management LLC now owns 6,515,124 shares of the company’s stock worth $31,729,000 after purchasing an additional 5,419,842 shares in the last quarter. State Street Corp increased its holdings in Fortrea by 1.0% in the fourth quarter. State Street Corp now owns 4,110,899 shares of the company’s stock valued at $70,913,000 after buying an additional 39,777 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Fortrea by 21.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,219,029 shares of the company’s stock valued at $55,528,000 after buying an additional 565,891 shares during the last quarter.

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.