Fortrea’s (FTRE) Market Perform Rating Reiterated at William Blair

William Blair reiterated their market perform rating on shares of Fortrea (NASDAQ:FTRE) in a report published on Tuesday morning,Benzinga reports. William Blair also issued estimates for Fortrea’s Q1 2025 earnings at ($0.24) EPS, Q2 2025 earnings at ($0.02) EPS, Q3 2025 earnings at $0.23 EPS, Q4 2025 earnings at $0.39 EPS, FY2025 earnings at $0.37 EPS, Q1 2026 earnings at ($0.12) EPS, Q2 2026 earnings at $0.09 EPS, Q3 2026 earnings at $0.29 EPS, Q4 2026 earnings at $0.40 EPS and FY2026 earnings at $0.67 EPS.

A number of other equities research analysts have also recently issued reports on the stock. TD Cowen upped their target price on shares of Fortrea from $23.00 to $25.00 and gave the company a “hold” rating in a report on Monday, November 11th. Citigroup lowered Fortrea from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $30.00 to $23.00 in a research note on Wednesday, December 11th. Robert W. Baird lowered Fortrea from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $28.00 to $25.00 in a report on Friday, December 6th. Barclays dropped their price target on Fortrea from $25.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Baird R W cut shares of Fortrea from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.30.

Fortrea Price Performance

Shares of NASDAQ FTRE opened at $10.69 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 1.18. The business has a 50-day moving average of $16.50 and a 200-day moving average of $18.95. The stock has a market capitalization of $958.89 million, a price-to-earnings ratio of -3.13, a PEG ratio of 1.78 and a beta of 1.34. Fortrea has a fifty-two week low of $9.55 and a fifty-two week high of $41.02.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.18). The company had revenue of $697.00 million during the quarter, compared to analyst estimates of $703.22 million. Fortrea had a negative net margin of 10.99% and a positive return on equity of 2.00%. During the same period in the previous year, the company posted $0.19 EPS. As a group, sell-side analysts predict that Fortrea will post 0.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Thomas Pike sold 11,268 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $18.04, for a total transaction of $203,274.72. Following the transaction, the chief executive officer now directly owns 159,868 shares of the company’s stock, valued at approximately $2,884,018.72. This trade represents a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 12,386 shares of company stock worth $219,751 in the last quarter. 0.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fortrea

Institutional investors have recently made changes to their positions in the stock. Hara Capital LLC bought a new position in Fortrea during the 3rd quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Fortrea in the fourth quarter valued at about $30,000. GF Fund Management CO. LTD. acquired a new position in Fortrea in the fourth quarter valued at about $35,000. Covestor Ltd lifted its position in Fortrea by 102.4% during the third quarter. Covestor Ltd now owns 2,763 shares of the company’s stock worth $55,000 after purchasing an additional 1,398 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Fortrea by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,241 shares of the company’s stock worth $64,000 after buying an additional 572 shares in the last quarter.

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.