Fortrea (FTRE) Stock Price, News & Analysis

8 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Fortrea in the last twelve months. There are currently 1 sell rating, 3 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" FTRE shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in FTRE, but not buy additional shares or sell existing shares.
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8 equities research analysts have issued 12 month price targets for Fortrea's stock. Their FTRE share price targets range from $27.00 to $44.00. On average, they anticipate the company's stock price to reach $37.29 in the next year. This suggests a possible upside of 2.6% from the stock's current price.
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Fortrea's stock was trading at $34.90 at the beginning of the year. Since then, FTRE stock has increased by 4.2% and is now trading at $36.35.
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Fortrea saw a decrease in short interest in the month of March. As of March 31st, there was short interest totaling 4,650,000 shares, a decrease of 12.4% from the March 15th total of 5,310,000 shares. Based on an average daily trading volume, of 885,900 shares, the days-to-cover ratio is currently 5.2 days. Approximately 5.2% of the company's shares are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 7th 2024.
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Fortrea will be holding an earnings conference call on Tuesday, May 7th at 9:00 AM Eastern. Interested parties can register for or listen to the call using this link.

Fortrea Holdings Inc. (NASDAQ:FTRE) released its earnings results on Monday, March, 11th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.04. The business had revenue of $775.40 million for the quarter, compared to analysts' expectations of $779.09 million. The firm's revenue for the quarter was up 1.8% on a year-over-year basis.

ETFs with the largest weight of Fortrea (NASDAQ:FTRE) stock in their portfolio include LeaderShares Activist Leaders ETF (ACTV), Invesco S&P SmallCap Health Care ETF (PSCH), Invesco S&P Spin-Off ETF (CSD), iShares Factors US Value Style ETF (STLV), BlackRock Large Cap Value ETF (BLCV), Brandes U.S. Small-Mid Cap Value ETF (BSMC), Brandes U.S. Value ETF (BUSA) and iShares S&P Small-Cap 600 Value ETF (IJS).

Fortrea updated its FY 2024 earnings guidance on Tuesday, March, 12th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $3.1 billion-$3.2 billion, compared to the consensus revenue estimate of $3.2 billion.

Fortrea's stock is owned by a number of institutional and retail investors. Top institutional shareholders include Penn Davis Mcfarland Inc. (0.64%), Raymond James & Associates (0.15%), New York State Teachers Retirement System (0.12%), Hedeker Wealth LLC (0.07%), State of Alaska Department of Revenue (0.06%) and Louisiana State Employees Retirement System (0.05%). Insiders that own company stock include Peter M Neupert and Thomas Pike.
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Shares of FTRE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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