Fortrea Holdings Inc. (NASDAQ:FTRE) Stock Has Consensus Price Target of $22.80 According to Analysts

Fortrea Holdings Inc. (NASDAQ:FTRE) has been assigned an average rating of “Hold” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $23.68.

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Fortrea from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a research note on Thursday, October 15th. Mizuho increased their target price on Fortrea from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Zacks Research downgraded Fortrea from a “hold” rating to a “strong sell” rating in a research report on Monday, October 12th. Finally, Truist Financial boosted their price objective on Fortrea from $26.00 to $29.00 and gave the company a “buy” rating in a report on Friday.

Insider Activity at Fortrea

In other news, CEO Anshul Thakral sold 99,869 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $19.16, for a total value of $1,913,490.04. Following the sale, the chief executive officer directly owned 316,797 shares in the company, valued at approximately $6,069,830.52. This trade represents a 23.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in shares of Fortrea in the second quarter valued at about $41,488,000. Renaissance Technologies LLC raised its position in shares of Fortrea by 81.4% in the first quarter. Renaissance Technologies LLC now owns 1,432,709 shares of the company’s stock valued at $13,496,000 after buying an additional 643,000 shares during the last quarter. Eagle Health Investments LP lifted its stake in shares of Fortrea by 7.3% in the first quarter. Eagle Health Investments LP now owns 1,307,560 shares of the company’s stock worth $12,317,000 after buying an additional 89,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Fortrea by 163.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,299,862 shares of the company’s stock worth $12,241,000 after buying an additional 807,081 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its stake in shares of Fortrea by 26.7% in the second quarter. WINTON GROUP Ltd now owns 389,155 shares of the company’s stock worth $6,771,000 after buying an additional 82,059 shares in the last quarter.

Fortrea Price Performance

FTRE stock opened at $21.29 on Monday. The firm’s 50-day moving average price is $20.28 and its two-hundred day moving average price is $15.74. Fortrea has a 12-month low of $8.55 and a 12-month high of $26.16. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -29.16, a PEG ratio of 0.56 and a beta of 1.93. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.94.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.22 by $0.06. Fortrea had a negative net margin of 2.58% and a positive return on equity of 13.98%. The business had revenue of $691.50 million during the quarter, compared to analyst estimates of $671.57 million. As a group, equities analysts predict that Fortrea will post 0.86 earnings per share for the current year.

Key Headlines Impacting Fortrea

Here are the key news stories impacting Fortrea this week:

• Positive Sentiment: Fortrea reported third-quarter adjusted earnings of $0.28 per share, above the $0.22 consensus estimate and up from $0.12 a year earlier. Revenue of $691.5 million also exceeded expectations of $671.6 million. Fortrea Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management forecast 2026 revenue of $2.665 billion to $2.690 billion and raised its adjusted EBITDA outlook to $210 million-$218 million, signaling improved expected operating profitability. Fortrea Raises Adjusted EBITDA Outlook
• Positive Sentiment: Barclays raised its price target from $23 to $26 and maintained an “overweight” rating, reflecting increased confidence in Fortrea’s valuation and earnings potential. Barclays Fortrea Rating
• Neutral Sentiment: Despite the earnings beat, Fortrea continues to report a negative net margin, so investors may remain focused on whether the improved EBITDA outlook translates into sustainable bottom-line earnings. Fortrea Third-Quarter Results
• Negative Sentiment: Fortrea shares fell after the results, indicating that investors may have viewed the revised guidance, business outlook, or earnings quality as less compelling than the headline quarterly beat. Fortrea Shares Drop After Q3 Results

Fortrea Company Profile

Fortrea Holdings Inc is a global contract research organization (CRO) that provides services to pharmaceutical, biotechnology and medical device companies. The company helps clients plan, manage and execute clinical development programs, supporting the testing of new medicines and therapies from early-stage research through regulatory approval and post-approval activities.

Its services include Phase I through Phase IV clinical trials, clinical operations, patient recruitment and access, data management, biostatistics, medical monitoring, pharmacovigilance and regulatory support.