Fortrea Holdings Inc. (NASDAQ:FTRE) Stock Rated “Hold” by Wall Street Analysts

Shares of Fortrea Holdings Inc. (NASDAQ:FTRE) have been assigned a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $23.68.

Several brokerages have commented on FTRE. Barclays boosted their target price on Fortrea from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday. UBS Group increased their price target on Fortrea from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, October 20th. Citigroup lifted their price objective on Fortrea from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Financial Group reiterated a “hold” rating and issued a $21.50 target price on shares of Fortrea in a report on Friday. Finally, Robert W. Baird set a $23.00 price target on shares of Fortrea in a research report on Thursday, July 30th.

Fortrea Stock Performance

NASDAQ FTRE opened at $21.29 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -29.16, a P/E/G ratio of 0.52 and a beta of 1.93. The firm’s 50 day simple moving average is $20.28 and its 200 day simple moving average is $15.74. Fortrea has a 1 year low of $8.55 and a 1 year high of $26.16.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. Fortrea had a negative net margin of 2.58% and a positive return on equity of 13.98%. The business had revenue of $691.50 million for the quarter, compared to analysts’ expectations of $671.57 million. As a group, research analysts expect that Fortrea will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Anshul Thakral sold 99,869 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $19.16, for a total transaction of $1,913,490.04. Following the completion of the sale, the chief executive officer owned 316,797 shares of the company’s stock, valued at $6,069,830.52. This trade represents a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fortrea

Several institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP bought a new position in shares of Fortrea during the 2nd quarter worth approximately $41,488,000. Renaissance Technologies LLC increased its stake in shares of Fortrea by 81.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,432,709 shares of the company’s stock valued at $13,496,000 after acquiring an additional 643,000 shares in the last quarter. Eagle Health Investments LP lifted its position in shares of Fortrea by 7.3% during the 1st quarter. Eagle Health Investments LP now owns 1,307,560 shares of the company’s stock valued at $12,317,000 after acquiring an additional 89,000 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Fortrea by 163.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,299,862 shares of the company’s stock valued at $12,241,000 after acquiring an additional 807,081 shares during the period. Finally, WINTON GROUP Ltd lifted its position in shares of Fortrea by 26.7% during the 2nd quarter. WINTON GROUP Ltd now owns 389,155 shares of the company’s stock valued at $6,771,000 after acquiring an additional 82,059 shares during the period.

Key Fortrea News

Here are the key news stories impacting Fortrea this week:

• Positive Sentiment: Fortrea reported third-quarter adjusted earnings of $0.28 per share, above the $0.22 consensus estimate and up from $0.12 a year earlier. Revenue of $691.5 million also exceeded expectations of $671.6 million. Fortrea Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management forecast 2026 revenue of $2.665 billion to $2.690 billion and raised its adjusted EBITDA outlook to $210 million-$218 million, signaling improved expected operating profitability. Fortrea Raises Adjusted EBITDA Outlook
• Positive Sentiment: Barclays raised its price target from $23 to $26 and maintained an “overweight” rating, reflecting increased confidence in Fortrea’s valuation and earnings potential. Barclays Fortrea Rating
• Neutral Sentiment: Despite the earnings beat, Fortrea continues to report a negative net margin, so investors may remain focused on whether the improved EBITDA outlook translates into sustainable bottom-line earnings. Fortrea Third-Quarter Results
• Negative Sentiment: Fortrea shares fell after the results, indicating that investors may have viewed the revised guidance, business outlook, or earnings quality as less compelling than the headline quarterly beat. Fortrea Shares Drop After Q3 Results

About Fortrea

Fortrea Holdings Inc is a global contract research organization (CRO) that provides services to pharmaceutical, biotechnology and medical device companies. The company helps clients plan, manage and execute clinical development programs, supporting the testing of new medicines and therapies from early-stage research through regulatory approval and post-approval activities.

Its services include Phase I through Phase IV clinical trials, clinical operations, patient recruitment and access, data management, biostatistics, medical monitoring, pharmacovigilance and regulatory support.