Fortrea (NASDAQ:FTRE) Stock Rating Upgraded by Baird R W

Fortrea (NASDAQ:FTRE) was upgraded by Baird R W from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks.com reports.

A number of other equities research analysts also recently issued reports on FTRE. Evercore ISI cut their target price on shares of Fortrea from $43.00 to $31.00 and set an “outperform” rating for the company in a research report on Tuesday. Robert W. Baird upgraded shares of Fortrea from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $45.00 to $36.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortrea in a research report on Wednesday, March 6th. They set a “hold” rating and a $36.00 target price on the stock. Bank of America cut their price target on shares of Fortrea from $33.00 to $27.00 and set an “underperform” rating for the company in a research note on Tuesday. Finally, Barclays decreased their target price on Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Fortrea currently has a consensus rating of “Moderate Buy” and an average price target of $35.57.

Fortrea Price Performance

NASDAQ FTRE opened at $28.77 on Tuesday. The company’s 50 day simple moving average is $37.34 and its 200 day simple moving average is $34.18. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.47 and a quick ratio of 1.62. The firm has a market capitalization of $2.57 billion and a PE ratio of -20.70. Fortrea has a 12 month low of $24.92 and a 12 month high of $41.02.

Fortrea (NASDAQ:FTRE) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.04) earnings per share for the quarter. Fortrea had a negative net margin of 4.11% and a positive return on equity of 4.76%. The business had revenue of $662.10 million for the quarter, compared to the consensus estimate of $754.58 million. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, equities research analysts forecast that Fortrea will post 1.06 EPS for the current fiscal year.

Institutional Trading of Fortrea

A number of large investors have recently added to or reduced their stakes in FTRE. Banyan Capital Management Inc. acquired a new position in Fortrea during the fourth quarter worth approximately $816,000. Daymark Wealth Partners LLC bought a new stake in Fortrea in the 4th quarter valued at $254,000. Nordea Investment Management AB bought a new position in Fortrea during the fourth quarter worth $747,000. Raymond James Trust N.A. acquired a new position in shares of Fortrea in the fourth quarter valued at $363,000. Finally, FORVIS Wealth Advisors LLC acquired a new stake in shares of Fortrea during the 4th quarter worth about $244,000.

About Fortrea

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.