Fortrea Holdings Inc. (NASDAQ:FTRE) Receives $13.28 Average Price Target from Analysts

by · The Cerbat Gem

Fortrea Holdings Inc. (NASDAQ:FTRE – Get Free Report) has received an average recommendation of “Hold” from the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $13.2778.

A number of brokerages have weighed in on FTRE. Zacks Research downgraded shares of Fortrea from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Mizuho increased their target price on shares of Fortrea from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, December 18th. Jefferies Financial Group boosted their price target on Fortrea from $7.00 to $9.50 and gave the company a “hold” rating in a research note on Tuesday, September 9th. Barclays set a $15.00 price target on Fortrea and gave the company an “equal weight” rating in a report on Monday, December 15th. Finally, Wall Street Zen lowered Fortrea from a “buy” rating to a “hold” rating in a report on Monday, October 27th.

Get Our Latest Research Report on Fortrea

Fortrea Stock Performance

FTRE opened at $16.62 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.81. The stock’s 50 day moving average price is $13.64 and its two-hundred day moving average price is $9.95. The firm has a market capitalization of $1.54 billion, a P/E ratio of -1.48, a price-to-earnings-growth ratio of 0.49 and a beta of 1.59. Fortrea has a 12-month low of $3.97 and a 12-month high of $20.26.

Fortrea (NASDAQ:FTRE – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The business had revenue of $701.30 million for the quarter, compared to analyst estimates of $643.43 million. Fortrea had a positive return on equity of 5.64% and a negative net margin of 36.77%. On average, equities analysts forecast that Fortrea will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On Fortrea

Hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC boosted its position in shares of Fortrea by 276.2% during the 1st quarter. Hsbc Holdings PLC now owns 55,021 shares of the company’s stock valued at $415,000 after acquiring an additional 40,396 shares in the last quarter. AlphaQuest LLC boosted its holdings in Fortrea by 229.8% during the first quarter. AlphaQuest LLC now owns 20,738 shares of the company’s stock valued at $157,000 after purchasing an additional 14,450 shares in the last quarter. Ieq Capital LLC boosted its holdings in Fortrea by 303.5% during the first quarter. Ieq Capital LLC now owns 44,186 shares of the company’s stock valued at $334,000 after purchasing an additional 33,235 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Fortrea in the 1st quarter valued at approximately $99,000. Finally, Trexquant Investment LP raised its holdings in shares of Fortrea by 7.6% in the 1st quarter. Trexquant Investment LP now owns 266,584 shares of the company’s stock worth $2,013,000 after buying an additional 18,821 shares in the last quarter.

About Fortrea

(Get Free Report)

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.

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