Fortrea (NASDAQ:FTRE) Releases Earnings Results, Misses Estimates By $0.04 EPS

Fortrea (NASDAQ:FTRE) released its earnings results on Wednesday. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.04), Zacks reports. The business had revenue of $701.30 million during the quarter, compared to the consensus estimate of $643.43 million. Fortrea had a negative net margin of 36.77% and a positive return on equity of 5.64%. Fortrea updated its FY 2025 guidance to EPS.

Fortrea Stock Performance

Shares of FTRE stock traded up $0.20 during trading on Friday, reaching $11.22. 994,018 shares of the company’s stock traded hands, compared to its average volume of 2,126,426. The firm’s 50-day moving average is $10.03 and its 200 day moving average is $7.26. The company has a market capitalization of $1.02 billion, a P/E ratio of -0.99, a PEG ratio of 0.56 and a beta of 1.86. Fortrea has a 1 year low of $3.97 and a 1 year high of $25.28. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 1.81.

Analyst Upgrades and Downgrades

FTRE has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Fortrea from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. Zacks Research downgraded shares of Fortrea from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Robert W. Baird boosted their target price on shares of Fortrea from $9.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Baird R W raised shares of Fortrea from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 4th. Finally, Jefferies Financial Group lifted their price target on shares of Fortrea from $7.00 to $9.50 and gave the stock a “hold” rating in a report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Fortrea has a consensus rating of “Hold” and an average target price of $13.17.

Insider Buying and Selling at Fortrea

In related news, Director Peter M. Neupert bought 32,500 shares of the company’s stock in a transaction on Monday, August 11th. The shares were purchased at an average price of $6.26 per share, for a total transaction of $203,450.00. Following the completion of the transaction, the director directly owned 98,132 shares in the company, valued at approximately $614,306.32. The trade was a 49.52% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Erin L. Russell purchased 9,854 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was bought at an average cost of $10.15 per share, with a total value of $100,018.10. Following the completion of the acquisition, the director directly owned 9,854 shares of the company’s stock, valued at approximately $100,018.10. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 10,311 shares of company stock valued at $94,635 in the last 90 days. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Sivia Capital Partners LLC bought a new position in shares of Fortrea in the 2nd quarter worth $79,000. Caxton Associates LLP bought a new position in Fortrea in the first quarter valued at $196,000. Humankind Investments LLC increased its stake in Fortrea by 212.3% in the second quarter. Humankind Investments LLC now owns 38,748 shares of the company’s stock valued at $191,000 after acquiring an additional 26,340 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in Fortrea during the second quarter valued at about $94,000. Finally, Occudo Quantitative Strategies LP bought a new stake in Fortrea during the second quarter worth about $71,000.

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.