SG Americas Securities LLC Grows Stock Holdings in Fortrea Holdings Inc. $FTRE

SG Americas Securities LLC lifted its stake in Fortrea Holdings Inc. (NASDAQ:FTRE) by 42.0% during the first quarter, HoldingsChannel.com reports. The firm owned 217,592 shares of the company’s stock after purchasing an additional 64,364 shares during the quarter. SG Americas Securities LLC’s holdings in Fortrea were worth $2,050,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its holdings in Fortrea by 136.7% in the fourth quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock worth $32,000 after acquiring an additional 1,072 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Fortrea by 74.3% during the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock valued at $38,000 after acquiring an additional 2,918 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Fortrea by 137.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock worth $43,000 after acquiring an additional 5,036 shares during the last quarter. Toronto Dominion Bank bought a new position in Fortrea in the 4th quarter valued at approximately $51,000. Finally, Allworth Financial LP increased its holdings in shares of Fortrea by 19.6% in the 3rd quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock worth $57,000 after purchasing an additional 1,109 shares in the last quarter.

Fortrea Trading Up 1.0%

Fortrea stock opened at $17.58 on Thursday. Fortrea Holdings Inc. has a 52-week low of $4.36 and a 52-week high of $18.67. The company has a market cap of $1.66 billion, a P/E ratio of -3.58, a P/E/G ratio of 0.53 and a beta of 2.02. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.98. The business has a 50-day simple moving average of $14.66 and a two-hundred day simple moving average of $13.62.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.13. Fortrea had a negative net margin of 16.50% and a positive return on equity of 9.51%. The business had revenue of $636.50 million for the quarter, compared to the consensus estimate of $628.50 million. Analysts predict that Fortrea Holdings Inc. will post 0.8 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on FTRE. Barclays increased their price objective on Fortrea from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $14.00 target price on shares of Fortrea in a research note on Thursday, May 7th. Citigroup lifted their price target on shares of Fortrea from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a report on Tuesday, April 21st. Finally, Robert W. Baird set a $20.00 target price on shares of Fortrea in a report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.45.

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.