Shares of Fortrea Holdings Inc. (NASDAQ:FTRE - Get Free Report) have been given an average rating of "Reduce" by the twelve brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and eleven have given a hold recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $20.30.
A number of analysts have weighed in on FTRE shares. Barclays dropped their target price on shares of Fortrea from $25.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday. The Goldman Sachs Group dropped their target price on shares of Fortrea from $22.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday. William Blair reissued a "market perform" rating on shares of Fortrea in a report on Tuesday. Baird R W cut shares of Fortrea from a "strong-buy" rating to a "hold" rating in a report on Friday, December 6th. Finally, Robert W. Baird cut shares of Fortrea from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $28.00 to $25.00 in a report on Friday, December 6th.
Check Out Our Latest Stock Analysis on FTRE
Fortrea Stock Performance
Shares of NASDAQ:FTRE traded down $0.01 on Wednesday, reaching $10.68. 2,145,230 shares of the company's stock were exchanged, compared to its average volume of 1,484,667. The firm has a market capitalization of $958.00 million, a price-to-earnings ratio of -3.12, a PEG ratio of 1.78 and a beta of 1.34. Fortrea has a fifty-two week low of $9.55 and a fifty-two week high of $41.02. The business's 50-day moving average is $16.33 and its two-hundred day moving average is $18.89. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.74.
Fortrea (NASDAQ:FTRE - Get Free Report) last issued its earnings results on Monday, March 3rd. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.18). The business had revenue of $697.00 million for the quarter, compared to analyst estimates of $703.22 million. Fortrea had a positive return on equity of 2.00% and a negative net margin of 10.99%. During the same period last year, the company posted $0.19 earnings per share. As a group, equities research analysts forecast that Fortrea will post 0.51 EPS for the current year.
Insider Transactions at Fortrea
In other news, CEO Thomas Pike sold 11,268 shares of Fortrea stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $18.04, for a total value of $203,274.72. Following the transaction, the chief executive officer now directly owns 159,868 shares of the company's stock, valued at $2,884,018.72. This trade represents a 6.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 12,386 shares of company stock valued at $219,751 in the last quarter. Insiders own 0.12% of the company's stock.
Institutional Trading of Fortrea
Several institutional investors have recently made changes to their positions in FTRE. Hara Capital LLC acquired a new stake in shares of Fortrea during the third quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fortrea during the fourth quarter worth approximately $30,000. GF Fund Management CO. LTD. acquired a new stake in shares of Fortrea during the fourth quarter worth approximately $35,000. Covestor Ltd boosted its holdings in shares of Fortrea by 102.4% during the third quarter. Covestor Ltd now owns 2,763 shares of the company's stock worth $55,000 after purchasing an additional 1,398 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Fortrea by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,241 shares of the company's stock worth $64,000 after purchasing an additional 572 shares during the period.
About Fortrea
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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.
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