Fortrea Holdings Inc. (NASDAQ:FTRE) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts maintain a “Hold” consensus on Fortrea, with six hold, five buy and one sell rating among 12 firms. The average 12-month price target is $20.75, above the reported $17.70 share price.
• Fortrea shares were trading down 4.9%, while the company’s latest quarterly results exceeded expectations: adjusted EPS was $0.23 versus a $0.18 consensus estimate, and revenue reached $678.2 million versus $647.6 million expected.
• CEO Anshul Thakral sold 99,869 shares for approximately $1.91 million to cover tax obligations related to vested equity awards, reducing his position by 23.97%.

Fortrea Holdings Inc. (NASDAQ:FTRE - Get Free Report) has earned a consensus rating of "Hold" from the twelve research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $20.75.

Several equities research analysts have recently commented on FTRE shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $20.00 target price on shares of Fortrea in a research report on Thursday, July 30th. Wall Street Zen cut shares of Fortrea from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Fortrea in a research note on Friday, July 17th. William Blair upgraded shares of Fortrea to a "hold" rating in a research note on Wednesday, July 29th. Finally, Zacks Research cut Fortrea from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th.

Fortrea Trading Down 4.9%

FTRE stock opened at $17.70 on Friday. Fortrea has a one year low of $8.31 and a one year high of $21.39. The company has a market capitalization of $1.68 billion, a PE ratio of -19.45, a price-to-earnings-growth ratio of 0.43 and a beta of 1.97. The company's 50 day moving average price is $18.28 and its two-hundred day moving average price is $14.31. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.96 and a current ratio of 0.96.

Fortrea (NASDAQ:FTRE - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. Fortrea had a negative net margin of 3.18% and a positive return on equity of 10.72%. The company had revenue of $678.20 million for the quarter, compared to analysts' expectations of $647.57 million. As a group, analysts predict that Fortrea will post 0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Anshul Thakral sold 99,869 shares of Fortrea stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $19.16, for a total transaction of $1,913,490.04. Following the transaction, the chief executive officer owned 316,797 shares in the company, valued at approximately $6,069,830.52. The trade was a 23.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.

Institutional Trading of Fortrea

Institutional investors and hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC raised its position in shares of 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 buying an additional 1,072 shares in the last quarter. Osaic Holdings Inc. increased its stake 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 acquiring an additional 2,918 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Fortrea by 137.0% during the second 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 purchased a new stake in Fortrea during the fourth quarter valued at approximately $51,000. Finally, Ancora Advisors LLC purchased a new stake in Fortrea during the second quarter valued at approximately $59,000.

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.

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