Fortrea (FTRE) Stock Price, News & Analysis

Company Overview

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. The Enabling Services segment provides patient access and clinical trial technology solutions to customers that streamline complex randomization and optimize the trial drug supply process. The company offers delivery models that include full service, functional service provider, and hybrid service structures. It also offers phase I-IV clinical trial management, differentiated technology enabled trial solutions, and post approval services, as well as consulting services. The company serves pharmaceutical, biotechnology, and medical device organizations. Fortrea Holdings Inc. was incorporated in 2023 and is headquartered in Durham, North Carolina.

Key Stats

• Today's Range: $21.17 to $21.76
• 50-Day Range: $16.82 to $23.50
• 52-Week Range: $16.53 to $41.02
• Volume: 847,158 shs
• Average Volume: 1.28 million shs
• Market Capitalization: $1.94 billion
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $24.50
• Consensus Rating: Hold

Fortrea Stock Analysis - MarketRank™

Fortrea scored higher than 62% of companies evaluated by MarketBeat, and ranked 480th out of 963 stocks in the medical sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.1 / 5
• Analyst Rating: Hold

Consensus Rating

Fortrea has received a consensus rating of Hold. The company's average rating score is 2.25, and is based on 2 buy ratings, 8 hold ratings, and 1 sell rating.

Amount of Analyst Coverage

Fortrea has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 147.37%

Earnings Growth

Earnings for Fortrea are expected to grow by 147.37% in the coming year, from $0.57 to $1.41 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Fortrea is -6.31, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Fortrea is -6.31, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Growth Ratio

Fortrea has a PEG Ratio of 3.28. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Fortrea has a P/B Ratio of 1.10. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 4.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

6.17% of the float of Fortrea has been sold short.

Short Interest Ratio / Days to Cover

Fortrea has a short interest ratio ("days to cover") of 3.7, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Fortrea has recently decreased by 23.68%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Fortrea does not currently pay a dividend.

Dividend Growth

Fortrea does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

6.17% of the float of Fortrea has been sold short.

Short Interest Ratio / Days to Cover

Fortrea has a short interest ratio ("days to cover") of 3.7, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Fortrea has recently decreased by 23.68%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 2.7 / 5
• News Sentiment: 0.93

News Sentiment

Fortrea has a news sentiment score of 0.93. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Medical companies.

News Coverage This Week

MarketBeat has tracked 10 news articles for Fortrea this week, compared to 5 articles on an average week.

Search Interest

5 people have searched for FTRE on MarketBeat in the last 30 days.

MarketBeat Follows

Only 1 people have added Fortrea to their MarketBeat watchlist in the last 30 days. This is a decrease of -80% compared to the previous 30 days.

Company Ownership

• Score: 0.0 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Fortrea insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 0.12% of the stock of Fortrea is held by insiders.

FTRE Stock Analysis - Frequently Asked Questions

How have FTRE shares performed this year?

Fortrea's stock was trading at $34.90 at the start of the year. Since then, FTRE shares have decreased by 38.2% and is now trading at $21.58.
View the best growth stocks for 2024 here.

How were Fortrea's earnings last quarter?

Fortrea Holdings Inc. (NASDAQ:FTRE) announced its quarterly earnings data on Friday, November, 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by $0.02. Fortrea's quarterly revenue was down 5.4% on a year-over-year basis.

Who are Fortrea's major shareholders?

Fortrea's top institutional investors include Starboard Value LP (9.36%), Sessa Capital IM L.P. (7.71%), Pacer Advisors Inc. (6.84%) and FMR LLC (5.38%). Insiders that own company stock include Thomas Pike and Peter M Neupert.
View institutional ownership trends.

How do I buy shares of Fortrea?

Shares of FTRE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Fortrea own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Fortrea investors own include AUO (AUOTY), Waste Connections (WCN), American Water Works (AWK), The RMR Group (RMR), DiamondRock Hospitality (DRH), iShares Micro-Cap ETF (IWC) and Triple Flag Precious Metals (TFPM).

Company Calendar

• Last Earnings: 11/08/2024
• Today: 12/04/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 3/10/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Medical
• Industry: Medical laboratories
• Sub-Industry: Healthcare
• Current Symbol: NASDAQ:FTRE
• CUSIP: N/A
• CIK: 1965040
• Web: www.fortrea.com
• Phone: 877-495-0816
• Fax: N/A
• Employees: 18,000
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $24.50
• High Stock Price Target: $30.00
• Low Stock Price Target: $20.00
• Potential Upside/Downside: +13.5%
• Consensus Rating: Hold
• Rating Score (0-4): 2.25
• Research Coverage: 12 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($3.42)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: 37.86
• P/E Growth: 3.28
• Net Income: $-3,400,000.00
• Net Margins: -10.99%
• Pretax Margin: -8.04%
• Return on Equity: 2.00%
• Return on Assets: 0.80%

Debt

• Debt-to-Equity Ratio: 0.74
• Current Ratio: 1.18
• Quick Ratio: 1.18

Sales & Book Value

• Annual Sales: $3.11 billion
• Price / Sales: 0.62
• Cash Flow: $2.47 per share
• Price / Cash Flow: 8.74
• Book Value: $19.58 per share
• Price / Book: 1.10

Miscellaneous

• Outstanding Shares: 89,700,000
• Free Float: 89,592,000
• Market Cap: $1.94 billion
• Optionable: Optionable
• Beta: 1.16