Fortrea (NASDAQ:FTRE - Get Free Report) will likely be issuing its quarterly earnings data before the market opens on Monday, March 3rd. Analysts expect the company to announce earnings of $0.36 per share and revenue of $703.22 million for the quarter. Persons interested in listening to the company's earnings conference call can do so using this link.
Fortrea Trading Down 6.8 %
Shares of Fortrea stock traded down $1.03 on Thursday, reaching $14.05. 1,313,329 shares of the company's stock were exchanged, compared to its average volume of 1,077,617. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.18. The firm's 50-day moving average is $17.18 and its two-hundred day moving average is $19.30. The company has a market capitalization of $1.26 billion, a P/E ratio of -4.11, a price-to-earnings-growth ratio of 1.78 and a beta of 1.21. Fortrea has a 52 week low of $13.81 and a 52 week high of $41.02.
Insider Activity at Fortrea
In other news, CEO Thomas Pike sold 11,268 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $18.04, for a total transaction of $203,274.72. Following the transaction, the chief executive officer now owns 159,868 shares of the company's stock, valued at approximately $2,884,018.72. This represents a 6.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 12,386 shares of company stock worth $219,751. Insiders own 0.12% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on FTRE shares. Citigroup downgraded Fortrea from a "buy" rating to a "neutral" rating and decreased their price target for the company from $30.00 to $23.00 in a research report on Wednesday, December 11th. Baird R W downgraded shares of Fortrea from a "strong-buy" rating to a "hold" rating in a report on Friday, December 6th. William Blair restated a "market perform" rating on shares of Fortrea in a research note on Friday, November 8th. TD Cowen raised their price target on Fortrea from $23.00 to $25.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Finally, Robert W. Baird cut Fortrea from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $28.00 to $25.00 in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $23.30.
Check Out Our Latest Stock Analysis on Fortrea
About Fortrea
(
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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.
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