Fortrea (NASDAQ:FTRE – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.
Several other equities analysts have also weighed in on the company. Evercore restated an “outperform” rating on shares of Fortrea in a report on Wednesday, July 29th. Barclays boosted their target price on Fortrea from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday. Truist Financial raised their price objective on Fortrea from $26.00 to $29.00 and gave the company a “buy” rating in a report on Friday. Zacks Research lowered shares of Fortrea from a “hold” rating to a “strong sell” rating in a research report on Monday, October 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a research note on Thursday, October 15th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.68.
Check Out Our Latest Report on Fortrea
Fortrea Price Performance
Shares of NASDAQ FTRE opened at $21.29 on Friday. Fortrea has a 1-year low of $8.55 and a 1-year high of $26.16. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a fifty day moving average price of $20.28 and a 200 day moving average price of $15.74. The company has a market cap of $2.05 billion, a PE ratio of -29.16, a P/E/G ratio of 0.52 and a beta of 1.88.
Fortrea (NASDAQ:FTRE – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.06. The business had revenue of $691.50 million for the quarter, compared to analyst estimates of $671.57 million. Fortrea had a negative net margin of 2.58% and a positive return on equity of 13.98%. Sell-side analysts forecast that Fortrea will post 0.85 EPS for the current year.
Insider Activity
In other Fortrea news, CEO Anshul Thakral sold 99,869 shares of the 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 completion of the transaction, the chief executive officer directly owned 316,797 shares of the company’s stock, valued at approximately $6,069,830.52. This trade represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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
Several hedge funds have recently added to or reduced their stakes in FTRE. Mirae Asset Global Investments Co. Ltd. acquired a new position in Fortrea during the third quarter valued at approximately $97,000. China Universal Asset Management Co. Ltd. increased its holdings in Fortrea by 15.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,352 shares of the company’s stock worth $343,000 after purchasing an additional 2,296 shares in the last quarter. Pullen Investment Management LLC acquired a new position in Fortrea during the third quarter worth $2,220,000. Financial Management Professionals Inc. acquired a new stake in Fortrea in the 3rd quarter worth about $30,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Fortrea by 29.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,670 shares of the company’s stock valued at $233,000 after purchasing an additional 2,633 shares in the last quarter.
Key Fortrea News
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
About Fortrea
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.
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