Fortrea (NASDAQ:FTRE) Given New $5.00 Price Target at Barclays

Fortrea (NASDAQ:FTRE) had its price objective trimmed by Barclays from $6.00 to $5.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

Other equities research analysts have also issued reports about the stock. Mizuho lowered their price target on shares of Fortrea from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Truist Financial started coverage on shares of Fortrea in a research report on Friday, May 2nd. They issued a “hold” rating and a $7.00 price objective on the stock. William Blair reaffirmed a “market perform” rating on shares of Fortrea in a research note on Tuesday, March 4th. The Goldman Sachs Group cut their target price on Fortrea from $22.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Robert W. Baird set a $12.00 price target on Fortrea in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.73.

Fortrea Stock Down 3.7%

FTRE opened at $5.00 on Tuesday. Fortrea has a 12 month low of $4.54 and a 12 month high of $29.32. 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 business’s 50-day moving average price is $7.00 and its 200-day moving average price is $14.17. The company has a market cap of $452.70 million, a P/E ratio of -1.46, a P/E/G ratio of 1.78 and a beta of 2.15.

Fortrea (NASDAQ:FTRE) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.09. Fortrea had a positive return on equity of 2.00% and a negative net margin of 10.99%. The business had revenue of $651.30 million for the quarter, compared to analyst estimates of $609.63 million. On average, equities analysts expect that Fortrea will post 0.51 EPS for the current year.

Institutional Trading of Fortrea

Several large investors have recently bought and sold shares of the company. Brooklyn Investment Group boosted its position in Fortrea by 9,577.5% during the 1st quarter. Brooklyn Investment Group now owns 3,871 shares of the company’s stock valued at $29,000 after acquiring an additional 3,831 shares in the last quarter. Versor Investments LP bought a new stake in Fortrea during the 1st quarter valued at approximately $112,000. Algert Global LLC boosted its position in Fortrea by 444.6% during the 1st quarter. Algert Global LLC now owns 325,916 shares of the company’s stock valued at $2,461,000 after acquiring an additional 266,066 shares in the last quarter. Fox Run Management L.L.C. boosted its position in Fortrea by 89.8% during the 1st quarter. Fox Run Management L.L.C. now owns 30,691 shares of the company’s stock valued at $232,000 after acquiring an additional 14,521 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Fortrea during the 1st quarter valued at approximately $39,000.

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.