Research Analysts’ Recent Ratings Changes for Fortrea (FTRE)

Several brokerages have updated their recommendations and price targets on shares of Fortrea (NASDAQ: FTRE) in the last few weeks:

• 11/11/2024 – Fortrea had its price target raised by analysts at Robert W. Baird from $28.00 to $30.00. They now have an “outperform” rating on the stock.
• 11/11/2024 – Fortrea had its price target raised by analysts at TD Cowen from $23.00 to $25.00. They now have a “hold” rating on the stock.
• 11/11/2024 – Fortrea had its price target raised by analysts at Barclays PLC from $20.00 to $25.00. They now have an “equal weight” rating on the stock.
• 11/8/2024 – Fortrea had its “market perform” rating reaffirmed by analysts at William Blair.
• 10/15/2024 – Fortrea had its price target lowered by analysts at Barclays PLC from $21.00 to $20.00. They now have an “equal weight” rating on the stock.
• 10/8/2024 – Fortrea had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $26.00 to $23.00. They now have a “neutral” rating on the stock.
• 10/8/2024 – Fortrea had its price target lowered by analysts at Evercore ISI from $22.00 to $20.00. They now have an “in-line” rating on the stock.

Fortrea Trading Down 1.0 %

FTRE opened at $20.69 on Wednesday. The business has a fifty day moving average price of $19.51 and a 200 day moving average price of $22.72. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -6.05, a PEG ratio of 2.98 and a beta of 0.70. Fortrea Holdings Inc. has a 12 month low of $16.53 and a 12 month high of $41.02. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 1.18.

Fortrea (NASDAQ:FTRE) last posted its earnings results on Friday, November 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Fortrea had a negative net margin of 10.99% and a positive return on equity of 2.00%. The firm had revenue of $674.90 million during the quarter, compared to analysts’ expectations of $674.86 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Sell-side analysts expect that Fortrea Holdings Inc. will post 0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortrea

A number of large investors have recently modified their holdings of FTRE. nVerses Capital LLC acquired a new stake in Fortrea during the 2nd quarter valued at $26,000. Gladius Capital Management LP acquired a new stake in shares of Fortrea during the second quarter worth $30,000. Hara Capital LLC acquired a new stake in shares of Fortrea during the third quarter worth $29,000. Blue Trust Inc. boosted its holdings in shares of Fortrea by 2,515.8% during the second quarter. Blue Trust Inc. now owns 1,491 shares of the company’s stock worth $35,000 after purchasing an additional 1,434 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. boosted its holdings in shares of Fortrea by 125.0% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 2,250 shares of the company’s stock worth $53,000 after purchasing an additional 1,250 shares during the last quarter.

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.