Shares of Fortrea Holdings Inc. (NASDAQ:FTRE – Get Free Report) have been given a consensus rating of “Hold” by the twelve brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $20.75.
Several research analysts have issued reports on the stock. TD Cowen increased their target price on shares of Fortrea from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Mizuho lifted their price objective on shares of Fortrea from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Evercore restated an “outperform” rating on shares of Fortrea in a report on Wednesday, July 29th. Citigroup boosted their price target on Fortrea from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, William Blair upgraded shares of Fortrea to a “hold” rating in a research note on Wednesday, July 29th.
Read Our Latest Stock Report on FTRE
Fortrea Stock Down 4.9%
Fortrea (NASDAQ:FTRE – Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. The business had revenue of $678.20 million during the quarter, compared to the consensus estimate of $647.57 million. Fortrea had a positive return on equity of 10.72% and a negative net margin of 3.18%. Research analysts anticipate that Fortrea will post 0.85 earnings per share for the current year.
Insiders Place Their Bets
In other news, CEO Anshul Thakral sold 99,869 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $19.16, for a total transaction of $1,913,490.04. Following the sale, the chief executive officer directly owned 316,797 shares of the company’s stock, valued at $6,069,830.52. The trade was a 23.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.73% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its holdings in shares of Fortrea by 136.7% in the 4th quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock valued at $32,000 after buying an additional 1,072 shares during the period. Osaic Holdings Inc. grew its holdings in Fortrea by 74.3% during the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after acquiring an additional 2,918 shares during the period. Tower Research Capital LLC TRC grew its holdings in Fortrea by 137.0% during the second quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock worth $43,000 after acquiring an additional 5,036 shares during the period. Toronto Dominion Bank purchased a new position in Fortrea during the fourth quarter valued at approximately $51,000. Finally, Ancora Advisors LLC acquired a new position in Fortrea in the second quarter valued at approximately $59,000.
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.
Featured Articles
- Five stocks we like better than Fortrea
- Zscaler’s Strong Quarter Still Left Investors Waiting on 1 Key Signal
- Is Duolingo the Next Netflix-Style Comeback Story?
- GitLab’s AI Tools Are Starting to Turn Developer Demand Into Real Revenue
- GTA VI’s Console Problem Isn’t Take-Two’s Problem
Receive News & Ratings for Fortrea Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortrea and related companies with MarketBeat.com's FREE daily email newsletter.
