Shares of Fortrea Holdings Inc. (NASDAQ:FTRE - Get Free Report) have received an average rating of "Reduce" from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and eleven have assigned a hold recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $23.30.
A number of research firms have weighed in on FTRE. TD Cowen increased their price target on shares of Fortrea from $23.00 to $25.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Jefferies Financial Group cut Fortrea from a "buy" rating to a "hold" rating and reduced their target price for the company from $25.00 to $21.00 in a report on Wednesday, September 25th. Citigroup lowered Fortrea from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $30.00 to $23.00 in a research note on Wednesday, December 11th. The Goldman Sachs Group reduced their price objective on Fortrea from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 8th. Finally, Robert W. Baird downgraded shares of Fortrea from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $28.00 to $25.00 in a research report on Friday, December 6th.
Get Our Latest Analysis on Fortrea
Fortrea Trading Up 4.1 %
NASDAQ:FTRE traded up $0.76 on Friday, reaching $19.26. The stock had a trading volume of 2,653,824 shares, compared to its average volume of 1,292,983. Fortrea has a 12-month low of $16.53 and a 12-month high of $41.02. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -5.63, a P/E/G ratio of 2.94 and a beta of 1.16. The firm's fifty day moving average is $19.70 and its two-hundred day moving average is $22.04. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 1.18.
Fortrea (NASDAQ:FTRE - Get Free Report) last released its earnings results on Friday, November 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). Fortrea had a positive return on equity of 2.00% and a negative net margin of 10.99%. The firm had revenue of $674.90 million during the quarter, compared to analysts' expectations of $674.86 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The firm's revenue was down 5.4% on a year-over-year basis. Equities analysts expect that Fortrea will post 0.57 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Fortrea during the 2nd quarter worth approximately $26,000. Hara Capital LLC bought a new stake in Fortrea in the third quarter valued at $29,000. Blue Trust Inc. boosted its holdings in shares of Fortrea by 2,515.8% during the second quarter. Blue Trust Inc. now owns 1,491 shares of the company's stock valued at $35,000 after acquiring an additional 1,434 shares during the period. University of Texas Texas AM Investment Management Co. grew its position in shares of Fortrea by 125.0% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 2,250 shares of the company's stock worth $53,000 after acquiring an additional 1,250 shares during the last quarter. Finally, Covestor Ltd lifted its position in Fortrea by 102.4% in the 3rd quarter. Covestor Ltd now owns 2,763 shares of the company's stock valued at $55,000 after purchasing an additional 1,398 shares during the last quarter.
About Fortrea
(
Get Free ReportFortrea 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.
Featured Articles
Before you consider Fortrea, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fortrea wasn't on the list.
While Fortrea currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
