Fortrea (NASDAQ:FTRE) Given New $16.00 Price Target at Robert W. Baird

Fortrea (NASDAQ:FTRE) had its price target lowered by equities researchers at Robert W. Baird from $19.00 to $16.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 48.15% from the company’s current price.

Several other research analysts have also issued reports on FTRE. Citigroup upgraded shares of Fortrea from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $12.00 to $21.00 in a research report 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 set a $15.00 price target on Fortrea in a research note on Friday, January 9th. Truist Financial set a $22.00 target price on shares of Fortrea and gave the stock a “buy” rating in a report on Thursday, January 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $16.45.

Fortrea Price Performance

NASDAQ:FTRE opened at $10.80 on Friday. Fortrea has a 52-week low of $3.97 and a 52-week high of $18.67. 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 firm has a market cap of $997.92 million, a P/E ratio of -0.96, a PEG ratio of 0.30 and a beta of 1.59. The business’s 50-day moving average price is $15.28 and its 200 day moving average price is $12.28.

Fortrea (NASDAQ:FTRE) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.07). Fortrea had a negative net margin of 36.77% and a positive return on equity of 5.64%. The business had revenue of $660.50 million for the quarter, compared to the consensus estimate of $665.22 million. As a group, sell-side analysts predict that Fortrea will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortrea

Large investors have recently made changes to their positions in the business. Brandes Investment Partners LP increased its stake in shares of Fortrea by 72.8% during the 2nd quarter. Brandes Investment Partners LP now owns 224,272 shares of the company’s stock worth $1,108,000 after purchasing an additional 94,448 shares during the last quarter. Eagle Health Investments LP acquired a new stake in shares of Fortrea in the 3rd quarter valued at $8,325,000. ProShare Advisors LLC bought a new stake in Fortrea in the second quarter worth $117,000. Bank of Nova Scotia acquired a new position in Fortrea during the second quarter worth $5,087,000. Finally, Allianz Asset Management GmbH increased its position in Fortrea by 20.0% during the third quarter. Allianz Asset Management GmbH now owns 305,008 shares of the company’s stock worth $2,568,000 after buying an additional 50,902 shares during the last quarter.

Fortrea News Summary

Here are the key news stories impacting Fortrea this week:

• Positive Sentiment: Management says full‑year revenue and adjusted EBITDA results were delivered in line with stated targets, and full‑year cost savings exceeded previously communicated goals. GlobeNewswire Release
• Neutral Sentiment: Company posted its earnings materials and conference call slide deck (useful for investors evaluating segment performance, backlog and margin drivers). MarketBeat Earnings/Slide Deck
• Neutral Sentiment: Earnings call transcripts are available for additional color on client demand trends and cost‑takeout timing. Yahoo Transcript
• Negative Sentiment: Q4 EPS of $0.09 missed the Zacks/consensus estimate of $0.16, a notable earnings shortfall versus analyst expectations. Zacks: Earnings Lag Estimates
• Negative Sentiment: Q4 revenue of $660.5M slightly missed consensus (~$665.2M), a modest top‑line shortfall that weighed on near‑term sentiment. Yahoo: Sales Below Estimates
• Negative Sentiment: FY2026 revenue guidance was set at $2.6–$2.7B, which sits at or slightly below consensus — investors may view the midpoint/low end as conservative given recent expectations. GlobeNewswire Guidance

Fortrea Company Profile

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.