Fortrea Holdings Inc. (NASDAQ:FTRE – Get Free Report) has been given an average rating of “Hold” by the eleven analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $17.45.
A number of brokerages have recently issued reports on FTRE. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $14.00 price target on shares of Fortrea in a report on Thursday, May 7th. TD Cowen reiterated a “buy” rating on shares of Fortrea in a research report on Wednesday, May 6th. Citigroup upped their price objective on Fortrea from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Barclays upped their price objective on Fortrea from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded Fortrea from a “hold” rating to a “buy” rating in a research report on Saturday.
Read Our Latest Stock Analysis on Fortrea
Fortrea Trading Down 0.7%
Fortrea (NASDAQ:FTRE – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. The firm had revenue of $636.50 million for the quarter, compared to the consensus estimate of $628.51 million. Fortrea had a positive return on equity of 9.51% and a negative net margin of 16.50%. Sell-side analysts expect that Fortrea will post 0.8 earnings per share for the current year.
Institutional Trading of Fortrea
A number of hedge funds have recently bought and sold shares of the company. Essential Partners LLC increased its position in Fortrea by 140.2% during the first quarter. Essential Partners LLC now owns 9,675 shares of the company’s stock valued at $91,000 after acquiring an additional 5,647 shares during the last quarter. Amundi increased its position in Fortrea by 20.2% during the first quarter. Amundi now owns 12,490 shares of the company’s stock valued at $118,000 after acquiring an additional 2,101 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Fortrea by 9.5% during the first quarter. EverSource Wealth Advisors LLC now owns 10,936 shares of the company’s stock valued at $103,000 after acquiring an additional 953 shares during the last quarter. California State Teachers Retirement System increased its position in Fortrea by 51.3% during the first quarter. California State Teachers Retirement System now owns 132,369 shares of the company’s stock valued at $1,247,000 after acquiring an additional 44,882 shares during the last quarter. Finally, Eagle Health Investments LP increased its position in Fortrea by 7.3% during the first quarter. Eagle Health Investments LP now owns 1,307,560 shares of the company’s stock valued at $12,317,000 after acquiring an additional 89,000 shares during the last quarter.
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.
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