Fortrea Holdings Inc. (NASDAQ:FTRE) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Fortrea Holdings Inc. has received a consensus rating of "Hold" from twelve analysts, with targets ranging from a sell to a strong buy.
• Shares of Fortrea opened at $8.98 and have experienced a one-year low of $3.97 and a high of $25.28.
• Fortrea exceeded analysts' expectations by reporting an earnings per share (EPS) of $0.19 for the last quarter, surpassing estimates of $0.06.

Fortrea Holdings Inc. (NASDAQ:FTRE - Get Free Report) has been assigned a consensus rating of "Hold" from the twelve analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $12.2222.

FTRE has been the subject of several research reports. Evercore ISI boosted their target price on Fortrea from $5.00 to $7.00 and gave the company an "in-line" rating in a report on Friday, August 8th. The Goldman Sachs Group reduced their target price on Fortrea from $7.00 to $5.00 and set a "neutral" rating for the company in a report on Wednesday, May 14th. Mizuho lowered their price target on Fortrea from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Baird R W raised Fortrea from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Finally, Barclays reissued an "underweight" rating and set a $6.00 price target (up previously from $5.00) on shares of Fortrea in a report on Thursday, August 7th.

Insider Transactions at Fortrea

In other news, Director Peter M. Neupert purchased 32,500 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $6.26 per share, with a total value of $203,450.00. Following the completion of the acquisition, the director directly owned 98,132 shares of the company's stock, valued at approximately $614,306.32. This trade represents a 49.52% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jill G. Mcconnell sold 4,886 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $8.01, for a total transaction of $39,136.86. Following the transaction, the chief financial officer directly owned 54,770 shares of the company's stock, valued at $438,707.70. This represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,207 shares of company stock worth $61,325. Corporate insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fortrea during the fourth quarter worth about $30,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Fortrea by 8.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,235 shares of the company's stock worth $115,000 after buying an additional 1,769 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Fortrea by 1.0% during the second quarter. Sequoia Financial Advisors LLC now owns 176,159 shares of the company's stock worth $870,000 after buying an additional 1,802 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in Fortrea by 12.8% during the second quarter. Verdence Capital Advisors LLC now owns 16,046 shares of the company's stock worth $79,000 after buying an additional 1,827 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in Fortrea during the 4th quarter valued at about $35,000.

Fortrea Stock Up 2.1%

Shares of FTRE traded up $0.20 during midday trading on Wednesday, hitting $9.85. The company had a trading volume of 3,568,782 shares, compared to its average volume of 2,090,825. The company's 50-day simple moving average is $6.46 and its 200-day simple moving average is $7.04. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $894.38 million, a P/E ratio of -0.87 and a beta of 1.88. Fortrea has a 1 year low of $3.97 and a 1 year high of $25.28.

Fortrea (NASDAQ:FTRE - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.13. Fortrea had a positive return on equity of 5.25% and a negative net margin of 37.57%.The business had revenue of $710.30 million for the quarter, compared to the consensus estimate of $631.61 million. As a group, sell-side analysts expect that Fortrea will post 0.51 EPS for the current year.

Fortrea Company Profile

Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.