Fortrea (NASDAQ:FTRE) Stock Price Down 4.6% – Should You Sell?

Fortrea Holdings Inc. (NASDAQ:FTRE) was down 4.6% on Monday . The stock traded as low as $8.55 and last traded at $9.0150. Approximately 454,469 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 1,631,771 shares. The stock had previously closed at $9.45.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a research note on Thursday, January 22nd. Robert W. Baird decreased their price target on shares of Fortrea from $19.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Evercore set a $25.00 price target on Fortrea and gave the company an “outperform” rating in a report on Tuesday, January 6th. Citigroup upgraded Fortrea from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $21.00 in a research note on Thursday, December 11th. Finally, Mizuho set a $15.00 target price on Fortrea in a research note on Friday, January 9th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Fortrea currently has a consensus rating of “Hold” and a consensus target price of $16.15.

Fortrea Stock Performance

The company has a 50 day moving average of $11.34 and a 200 day moving average of $12.40. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.86. The firm has a market cap of $849.45 million, a price-to-earnings ratio of -0.83, a PEG ratio of 0.34 and a beta of 1.80.

Fortrea (NASDAQ:FTRE) last posted 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 for the quarter, compared to analysts’ expectations of $665.22 million. As a group, equities research analysts expect that Fortrea Holdings Inc. will post 0.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jill G. Mcconnell sold 5,061 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $9.07, for a total value of $45,903.27. Following the completion of the sale, the chief financial officer directly owned 69,796 shares of the company’s stock, valued at $633,049.72. The trade was a 6.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 9,673 shares of company stock valued at $92,242 in the last three months. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortrea

A number of institutional investors have recently made changes to their positions in FTRE. Eagle Health Investments LP bought a new stake in Fortrea during the third quarter valued at $8,325,000. Bank of Nova Scotia bought a new position in shares of Fortrea in the 2nd quarter worth about $5,087,000. Allianz Asset Management GmbH boosted its holdings in shares of Fortrea by 20.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 305,008 shares of the company’s stock valued at $2,568,000 after buying an additional 50,902 shares during the period. Ausbil Investment Management Ltd grew its position in shares of Fortrea by 587.2% during the 4th quarter. Ausbil Investment Management Ltd now owns 224,713 shares of the company’s stock valued at $3,876,000 after buying an additional 192,015 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in Fortrea during the third quarter worth about $4,557,000.

Fortrea Company Profile

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.