William Blair Reaffirms “Market Perform” Rating for Fortrea (NASDAQ:FTRE)

William Blair reaffirmed their market perform rating on shares of Fortrea (NASDAQ:FTRE) in a report published on Tuesday,Benzinga reports. William Blair also issued estimates for Fortrea’s Q1 2025 earnings at ($0.24) EPS, Q2 2025 earnings at ($0.02) EPS, Q3 2025 earnings at $0.23 EPS, Q4 2025 earnings at $0.39 EPS, FY2025 earnings at $0.37 EPS, Q1 2026 earnings at ($0.12) EPS, Q2 2026 earnings at $0.09 EPS, Q3 2026 earnings at $0.29 EPS, Q4 2026 earnings at $0.40 EPS and FY2026 earnings at $0.67 EPS.

Several other analysts have also recently weighed in on the stock. Barclays reduced their price objective on shares of Fortrea from $25.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Robert W. Baird cut Fortrea from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $28.00 to $25.00 in a research note on Friday, December 6th. TD Cowen boosted their price target on shares of Fortrea from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Baird R W cut shares of Fortrea from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Citigroup lowered shares of Fortrea from a “buy” rating to a “neutral” rating and dropped their target price for the company from $30.00 to $23.00 in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.30.

Fortrea Stock Down 1.8 %

Shares of NASDAQ FTRE opened at $10.69 on Tuesday. The stock has a 50-day moving average price of $16.50 and a two-hundred day moving average price of $18.95. Fortrea has a 12 month low of $9.55 and a 12 month high of $41.02. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.74. The company has a market cap of $958.89 million, a price-to-earnings ratio of -3.13, a PEG ratio of 1.78 and a beta of 1.34.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.18). The firm had revenue of $697.00 million during the quarter, compared to the consensus estimate of $703.22 million. Fortrea had a negative net margin of 10.99% and a positive return on equity of 2.00%. During the same quarter in the previous year, the company posted $0.19 earnings per share. As a group, analysts forecast that Fortrea will post 0.51 earnings per share for the current fiscal year.

Insider Transactions at Fortrea

In related news, CEO Thomas Pike sold 11,268 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $18.04, for a total transaction of $203,274.72. Following the completion of the sale, the chief executive officer now owns 159,868 shares in the company, valued at approximately $2,884,018.72. This represents a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 12,386 shares of company stock valued at $219,751 over the last ninety days. 0.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fortrea

A number of hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Fortrea by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,241 shares of the company’s stock worth $64,000 after purchasing an additional 572 shares during the last quarter. US Bancorp DE boosted its stake in shares of Fortrea by 97.5% in the 3rd quarter. US Bancorp DE now owns 12,960 shares of the company’s stock worth $259,000 after buying an additional 6,398 shares during the last quarter. Hara Capital LLC bought a new position in shares of Fortrea in the third quarter valued at approximately $29,000. Assetmark Inc. increased its position in shares of Fortrea by 10.7% during the third quarter. Assetmark Inc. now owns 16,238 shares of the company’s stock valued at $325,000 after acquiring an additional 1,566 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in Fortrea by 102.4% during the third quarter. Covestor Ltd now owns 2,763 shares of the company’s stock worth $55,000 after acquiring an additional 1,398 shares during the period.

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.