Fortrea Holdings Inc. (NASDAQ:FTRE - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $9.20 and last traded at $9.26, with a volume of 1955091 shares trading hands. The stock had previously closed at $9.64.
Analyst Ratings Changes
A number of research firms recently commented on FTRE. The Goldman Sachs Group decreased their target price on shares of Fortrea from $22.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Evercore ISI decreased their price target on shares of Fortrea from $20.00 to $15.00 and set an "in-line" rating for the company in a report on Tuesday, March 4th. Baird R W cut shares of Fortrea from a "strong-buy" rating to a "hold" rating in a report on Friday, December 6th. Citigroup cut shares of Fortrea from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $30.00 to $23.00 in a report on Wednesday, December 11th. Finally, Barclays decreased their price target on shares of Fortrea from $25.00 to $12.00 and set an "equal weight" rating for the company in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $19.00.
Read Our Latest Research Report on FTRE
Fortrea Price Performance
The stock has a market cap of $791.05 million, a price-to-earnings ratio of -2.56, a price-to-earnings-growth ratio of 1.78 and a beta of 1.34. The stock's 50 day moving average price is $14.32 and its two-hundred day moving average price is $17.88. 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 released its quarterly earnings results on Monday, March 3rd. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.18). The firm had revenue of $697.00 million for the quarter, compared to analyst estimates of $703.22 million. Fortrea had a negative net margin of 10.99% and a positive return on equity of 2.00%. During the same quarter in the prior year, the business posted $0.19 EPS. Equities research analysts forecast that Fortrea Holdings Inc. will post 0.51 EPS for the current fiscal year.
Insider Activity at Fortrea
In other news, CEO Thomas Pike sold 11,268 shares of Fortrea stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $18.04, for a total value of $203,274.72. Following the sale, the chief executive officer now owns 159,868 shares in the company, valued at $2,884,018.72. This trade represents a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 13,029 shares of company stock worth $226,168. 0.12% of the stock is owned by company insiders.
Institutional Trading of Fortrea
Several institutional investors have recently modified their holdings of FTRE. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fortrea in the fourth quarter worth about $30,000. GF Fund Management CO. LTD. purchased a new position in shares of Fortrea in the fourth quarter worth about $35,000. Covestor Ltd lifted its stake in shares of Fortrea by 57.7% in the fourth quarter. Covestor Ltd now owns 4,356 shares of the company's stock worth $81,000 after buying an additional 1,593 shares in the last quarter. Quarry LP lifted its stake in shares of Fortrea by 1,218.7% in the fourth quarter. Quarry LP now owns 4,365 shares of the company's stock worth $81,000 after buying an additional 4,034 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of Fortrea by 31.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 5,633 shares of the company's stock worth $105,000 after buying an additional 1,361 shares in the last quarter.
Fortrea Company Profile
(
Get Free Report)
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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