Fortrea Holdings Inc. $FTRE Stock Position Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 65.5% in the third quarter, HoldingsChannel reports. The firm owned 692,702 shares of the company’s stock after acquiring an additional 274,209 shares during the period. JPMorgan Chase & Co.’s holdings in Fortrea were worth $5,833,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada increased its stake in shares of Fortrea by 48.9% in the first quarter. Royal Bank of Canada now owns 121,707 shares of the company’s stock valued at $920,000 after purchasing an additional 39,944 shares during the period. Caxton Associates LLP bought a new stake in Fortrea during the 1st quarter valued at $196,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Fortrea by 10.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 282,780 shares of the company’s stock worth $2,135,000 after acquiring an additional 27,746 shares during the period. Focus Partners Wealth acquired a new position in Fortrea during the 1st quarter worth $80,000. Finally, Acadian Asset Management LLC bought a new position in shares of Fortrea in the first quarter worth $65,000.

Fortrea Price Performance

Shares of NASDAQ FTRE opened at $9.42 on Wednesday. Fortrea Holdings Inc. has a twelve month low of $3.97 and a twelve month high of $18.67. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.86. The firm has a 50-day moving average of $11.80 and a two-hundred day moving average of $12.41. The company has a market capitalization of $880.77 million, a price-to-earnings ratio of -0.86, a PEG ratio of 0.32 and a beta of 1.80.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.07). Fortrea had a positive return on equity of 6.23% and a negative net margin of 36.21%.The business had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.22 million. As a group, analysts expect that Fortrea Holdings Inc. will post 0.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FTRE shares. TD Cowen upgraded shares of Fortrea from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Monday, March 9th. Citigroup upgraded shares of Fortrea from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $12.00 to $21.00 in a research report on Thursday, December 11th. Truist Financial set a $22.00 price objective on shares of Fortrea and gave the company a “buy” rating in a report on Thursday, January 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a report on Thursday, January 22nd. Finally, Barclays decreased their price target on Fortrea from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.15.

Insider Transactions at Fortrea

In other Fortrea news, CFO Jill G. Mcconnell sold 5,061 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $9.07, for a total value of $45,903.27. Following the transaction, the chief financial officer owned 69,796 shares of the company’s stock, valued at approximately $633,049.72. This represents a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 9,673 shares of company stock valued at $92,242 in the last quarter. Insiders own 0.38% of the company’s stock.

About Fortrea

Fortrea, Inc is a global contract development and manufacturing organization (CDMO) that provides integrated solutions for pharmaceutical and biotechnology companies. Established as a spin-off from Thermo Fisher Scientific’s Pharma Services business in October 2023, Fortrea leverages a legacy of scientific expertise and manufacturing scale to support drug development from early-stage research through commercial production. The company’s comprehensive offerings address the complex needs of both small-molecule and biologics programs, making it a single source for clients seeking to accelerate timelines and manage costs.

Fortrea’s core services encompass analytical and formulation development, process optimization, clinical and commercial manufacturing, and packaging services.