Brokerages Set Fortrea Holdings Inc. (NASDAQ:FTRE) Price Target at $13.28

Fortrea Holdings Inc. (NASDAQ:FTRE) has been given a consensus recommendation of “Hold” by the thirteen ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, nine have assigned 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 objective among brokers that have issued ratings on the stock in the last year is $13.2778.

A number of equities analysts recently issued reports on FTRE shares. Wall Street Zen lowered Fortrea from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Wedbush set a $21.00 target price on Fortrea in a research note on Thursday, December 11th. Barclays set a $15.00 target price on Fortrea and gave the company an “equal weight” rating in a report on Monday, December 15th. Mizuho increased their price target on Fortrea from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, December 18th. Finally, Evercore ISI set a $14.00 price objective on shares of Fortrea in a research note on Thursday, November 6th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FTRE. JPMorgan Chase & Co. lifted its position in Fortrea by 65.5% in the third quarter. JPMorgan Chase & Co. now owns 692,702 shares of the company’s stock valued at $5,833,000 after purchasing an additional 274,209 shares during the period. Allworth Financial LP lifted its holdings in shares of Fortrea by 19.6% in the 3rd quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock valued at $57,000 after buying an additional 1,109 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Fortrea in the 3rd quarter valued at approximately $187,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Fortrea in the third quarter valued at approximately $906,000. Finally, PharVision Advisers LLC acquired a new position in Fortrea during the third quarter worth $141,000.

Fortrea Stock Performance

Shares of FTRE opened at $17.25 on Tuesday. The company’s 50 day simple moving average is $13.40 and its 200-day simple moving average is $9.73. The firm has a market cap of $1.59 billion, a PE ratio of -1.53, a price-to-earnings-growth ratio of 0.77 and a beta of 1.58. Fortrea has a 12-month low of $3.97 and a 12-month high of $20.26. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.81.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). Fortrea had a negative net margin of 36.77% and a positive return on equity of 5.64%. The business had revenue of $701.30 million during the quarter, compared to analysts’ expectations of $643.43 million. As a group, equities analysts predict that Fortrea will post 0.51 EPS for the current 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.