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

Fortrea Holdings Inc. (NASDAQ:FTRE) has been given a consensus rating of “Hold” by the twelve brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $20.75.

Several analysts have recently issued reports on FTRE shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a research report on Friday, July 17th. Evercore reaffirmed an “outperform” rating on shares of Fortrea in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $20.00 price objective on shares of Fortrea in a report on Thursday, July 30th. Mizuho boosted their price objective on Fortrea from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Finally, William Blair raised Fortrea to a “hold” rating in a report on Wednesday, July 29th.

Fortrea Stock Up 2.8%

Fortrea stock opened at $19.52 on Wednesday. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -21.45, a price-to-earnings-growth ratio of 0.46 and a beta of 1.99. Fortrea has a 52 week low of $6.89 and a 52 week high of $21.39. The business’s 50-day moving average price is $17.63 and its 200 day moving average price is $13.91. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.98.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. Fortrea had a negative net margin of 3.18% and a positive return on equity of 10.72%. The firm had revenue of $678.20 million for the quarter, compared to the consensus estimate of $647.57 million. As a group, sell-side analysts anticipate that Fortrea will post 0.85 earnings per share for the current year.

Insider Activity

In related news, CEO Anshul Thakral sold 99,869 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $19.16, for a total transaction of $1,913,490.04. Following the completion of the sale, the chief executive officer directly owned 316,797 shares in the company, valued at approximately $6,069,830.52. The trade was a 23.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its stake in Fortrea by 90.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 173,129 shares of the company’s stock worth $3,012,000 after purchasing an additional 82,349 shares during the last quarter. Essential Partners LLC raised its position in shares of Fortrea by 140.2% in the first quarter. Essential Partners LLC now owns 9,675 shares of the company’s stock valued at $91,000 after buying an additional 5,647 shares during the last quarter. Amundi raised its position in shares of Fortrea by 20.2% in the first quarter. Amundi now owns 12,490 shares of the company’s stock valued at $118,000 after buying an additional 2,101 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Fortrea by 9.5% in the first quarter. EverSource Wealth Advisors LLC now owns 10,936 shares of the company’s stock worth $103,000 after buying an additional 953 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Fortrea by 51.3% in the first quarter. California State Teachers Retirement System now owns 132,369 shares of the company’s stock worth $1,247,000 after buying an additional 44,882 shares in the last quarter.

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.