Fortrea Holdings Inc. (NASDAQ:FTRE) Receives $16.75 Consensus PT from Brokerages

Fortrea Holdings Inc. (NASDAQ:FTRE) has earned an average recommendation of “Hold” from the twelve brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $16.75.

Several equities research analysts recently commented on the company. Citigroup raised Fortrea from a “neutral” rating to a “buy” rating and raised their target price for the stock from $12.00 to $21.00 in a research note on Thursday, December 11th. Truist Financial set a $22.00 price objective on shares of Fortrea and gave the stock a “buy” rating in a research report on Thursday, January 8th. Robert W. Baird set a $19.00 price objective on shares of Fortrea in a research note on Wednesday, January 14th. Barclays set a $15.00 target price on shares of Fortrea and gave the stock an “equal weight” rating in a research note on Monday, December 15th. Finally, Wall Street Zen downgraded shares of Fortrea from a “buy” rating to a “hold” rating in a research note on Monday, October 27th.

Fortrea Stock Performance

Shares of FTRE opened at $11.00 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.81. The firm’s fifty day simple moving average is $15.73 and its two-hundred day simple moving average is $12.17. Fortrea has a 12 month low of $3.97 and a 12 month high of $18.67. The stock has a market capitalization of $1.02 billion, a P/E ratio of -0.98, a price-to-earnings-growth ratio of 0.32 and a beta of 1.59.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of Fortrea by 6,802.4% during the second quarter. Allworth Financial LP now owns 5,660 shares of the company’s stock valued at $28,000 after acquiring an additional 5,578 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Fortrea by 214.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock valued at $28,000 after purchasing an additional 2,278 shares during the period. Larson Financial Group LLC increased its stake in Fortrea by 136.7% during the 4th quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock valued at $32,000 after purchasing an additional 1,072 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Fortrea by 74.3% during the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after buying an additional 2,918 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Fortrea by 137.0% in the second quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock valued at $43,000 after buying an additional 5,036 shares in the last quarter.

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.