Fortrea Holdings Inc. (NASDAQ:FTRE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Fortrea Holdings Inc. (NASDAQ:FTRE) have received an average recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $37.29.

Several research firms recently weighed in on FTRE. Barclays dropped their price target on Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on Fortrea in a report on Wednesday, March 6th. They issued a “hold” rating and a $36.00 target price on the stock. Finally, Robert W. Baird assumed coverage on shares of Fortrea in a report on Friday, March 22nd. They set a “neutral” rating and a $43.00 price target for the company.

Fortrea Stock Down 2.7 %

FTRE stock opened at $35.50 on Thursday. The firm has a 50-day moving average of $37.95 and a two-hundred day moving average of $34.07. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.90. Fortrea has a one year low of $24.92 and a one year high of $41.02.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings results on Monday, March 11th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). The company had revenue of $775.40 million for the quarter, compared to analyst estimates of $779.09 million. Fortrea’s quarterly revenue was up 1.8% on a year-over-year basis. On average, research analysts expect that Fortrea will post 1.06 EPS for the current year.

Institutional Trading of Fortrea

A number of institutional investors have recently added to or reduced their stakes in FTRE. Whittier Trust Co. bought a new position in shares of Fortrea during the 4th quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Fortrea during the fourth quarter worth $25,000. ZRC Wealth Management LLC bought a new position in Fortrea during the fourth quarter valued at about $27,000. Glassman Wealth Services acquired a new stake in shares of Fortrea in the fourth quarter worth about $28,000. Finally, Allworth Financial LP bought a new stake in shares of Fortrea during the 4th quarter worth about $28,000.

About Fortrea

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.