Brokerages Set Fortrea Holdings Inc. (NASDAQ:FTRE) PT at $24.50

Shares of Fortrea Holdings Inc. (NASDAQ:FTRE) have been given an average recommendation of “Hold” by the twelve brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $24.50.

Several research analysts have weighed in on the company. Robert W. Baird boosted their price target on Fortrea from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. William Blair reissued a “market perform” rating on shares of Fortrea in a report on Friday, November 8th. TD Cowen boosted their target price on Fortrea from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Evercore ISI decreased their target price on Fortrea from $22.00 to $20.00 and set an “in-line” rating on the stock in a report on Tuesday, October 8th. Finally, Bank of America decreased their target price on Fortrea from $26.00 to $21.00 and set an “underperform” rating on the stock in a report on Tuesday, August 13th.

Institutional Trading of Fortrea

A number of institutional investors have recently modified their holdings of FTRE. O Shaughnessy Asset Management LLC bought a new stake in shares of Fortrea during the 1st quarter valued at $496,000. Price T Rowe Associates Inc. MD lifted its position in shares of Fortrea by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,531 shares of the company’s stock valued at $2,029,000 after acquiring an additional 2,731 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Fortrea during the 1st quarter valued at $630,000. Ancora Advisors LLC lifted its position in shares of Fortrea by 40,301.8% during the 1st quarter. Ancora Advisors LLC now owns 132,518 shares of the company’s stock worth $5,319,000 after buying an additional 132,190 shares during the last quarter. Finally, Cetera Advisors LLC bought a new stake in shares of Fortrea during the 1st quarter worth $241,000.

Fortrea Stock Up 4.2 %

NASDAQ:FTRE opened at $21.55 on Monday. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -6.05, a price-to-earnings-growth ratio of 3.15 and a beta of 0.70. Fortrea has a twelve month low of $16.53 and a twelve month high of $41.02. The stock’s 50 day moving average price is $19.48 and its two-hundred day moving average price is $22.63. 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) last posted its quarterly earnings results 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). The company had revenue of $674.90 million for the quarter, compared to analyst estimates of $674.86 million. Fortrea had a positive return on equity of 2.00% and a negative net margin of 10.99%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. Equities research analysts expect that Fortrea will post 0.57 earnings per share for the current fiscal year.

About Fortrea

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.