Fortrea (NASDAQ:FTRE) Stock Price Expected to Rise, Mizuho Analyst Says

Key Points

• Mizuho raised its price target on Fortrea from $13 to $16 while keeping a neutral rating. The new target still implies about a 9.9% downside from the stock’s current price.
• Analyst sentiment is mixed overall, but MarketBeat says the stock currently carries an average “Moderate Buy” rating with a consensus price target of $17.75. Recent targets from other firms range from a hold view to buy calls and targets as high as $20.
• Fortrea recently beat quarterly expectations, reporting EPS of $0.16 versus $0.03 expected and revenue of $636.5 million versus $628.5 million forecast. The stock opened at $17.76, near its 52-week high of $18.67.

Fortrea (NASDAQ:FTRE - Get Free Report) had its price objective raised by Mizuho from $13.00 to $16.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Mizuho's price target indicates a potential downside of 9.91% from the stock's current price.

Several other research analysts have also recently commented on FTRE. Weiss Ratings reiterated a "sell (d-)" rating on shares of Fortrea in a research note on Tuesday, April 21st. Barclays lifted their price objective on Fortrea from $16.00 to $18.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 24th. Robert W. Baird set a $20.00 target price on Fortrea in a research report on Wednesday, May 6th. Citigroup increased their target price on Fortrea from $16.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $14.00 price target on shares of Fortrea in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $17.75.

Fortrea Price Performance

FTRE opened at $17.76 on Monday. Fortrea has a twelve month low of $4.45 and a twelve month high of $18.67. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -3.62, a PEG ratio of 0.54 and a beta of 2.03. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.98. The company has a fifty day simple moving average of $15.66 and a 200 day simple moving average of $13.67.

Fortrea (NASDAQ:FTRE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.13. The firm had revenue of $636.50 million for the quarter, compared to analyst estimates of $628.50 million. Fortrea had a negative net margin of 16.50% and a positive return on equity of 9.51%. Equities research analysts expect that Fortrea will post 0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Fortrea

Hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC boosted 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 acquiring an additional 1,072 shares in the last quarter. Osaic Holdings Inc. lifted 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 purchasing an additional 2,918 shares during the period. Tower Research Capital LLC TRC lifted 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 purchasing an additional 5,036 shares during the period. Toronto Dominion Bank acquired a new stake in Fortrea during the fourth quarter valued at approximately $51,000. Finally, Allworth Financial LP grew its stake in shares of Fortrea by 19.6% in the 3rd quarter. Allworth Financial LP now owns 6,769 shares of the company's stock valued at $57,000 after purchasing an additional 1,109 shares during the period.

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.

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