Fortrea (NASDAQ:FTRE) Stock Price Down 7.4% – What’s Next?

Fortrea Holdings Inc. (NASDAQ:FTRE)’s stock price dropped 7.4% on Tuesday . The company traded as low as $8.99 and last traded at $9.10. Approximately 686,066 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 1,716,244 shares. The stock had previously closed at $9.83.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Robert W. Baird cut their target price on Fortrea from $19.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. TD Cowen raised shares of Fortrea from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Monday. Barclays lowered their price target on Fortrea from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. Evercore set a $25.00 target price on shares of Fortrea and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Finally, Citigroup raised Fortrea from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $12.00 to $21.00 in a report on Thursday, December 11th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.15.

Fortrea Stock Down 7.4%

The firm’s fifty day moving average price is $14.24 and its 200-day moving average price is $12.47. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.86. The company has a market cap of $850.76 million, a price-to-earnings ratio of -0.83, a price-to-earnings-growth ratio of 0.35 and a beta of 1.81.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). Fortrea had a negative net margin of 36.21% and a positive return on equity of 6.23%. The firm had revenue of $660.50 million during the quarter, compared to the consensus estimate of $665.22 million. Sell-side analysts predict that Fortrea Holdings Inc. will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC increased its stake in shares of Fortrea by 1.7% in the 4th quarter. Sanctuary Advisors LLC now owns 36,648 shares of the company’s stock valued at $632,000 after purchasing an additional 627 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Fortrea by 3.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,166 shares of the company’s stock valued at $365,000 after buying an additional 700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Fortrea by 27.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock valued at $77,000 after acquiring an additional 980 shares during the period. Amalgamated Bank raised its stake in shares of Fortrea by 4.0% during the third quarter. Amalgamated Bank now owns 26,688 shares of the company’s stock valued at $225,000 after acquiring an additional 1,026 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Fortrea by 136.7% during the fourth quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock worth $32,000 after purchasing an additional 1,072 shares during the period.

About Fortrea

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.