Fortrea Holdings Inc. (NASDAQ:FTRE) Given Average Rating of “Reduce” by Brokerages

Shares of Fortrea Holdings Inc. ( NASDAQ:FTRE – Get Free Report ) have received an average recommendation of “Reduce” from the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and eleven have issued a hold recommendation on the company.

The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $19.00. FTRE has been the topic of several recent analyst reports.



Citigroup downgraded shares of Fortrea from a “buy” rating to a “neutral” rating and reduced their target price for the company from $30.00 to $23.00 in a research note on Wednesday, December 11th.

Barclays reduced their price target on shares of Fortrea from $25.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 4th.

William Blair reaffirmed a “market perform” rating on shares of Fortrea in a report on Tuesday, March 4th. Baird R W downgraded Fortrea from a “strong-buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, Robert W.

Baird set a $12.00 price target on Fortrea in a report on Tuesday, March 4th. Get Our Latest Stock Analysis on Fortrea Insider Activity Institutional Inflows and Outflows Large investors have recently made changes to their positions in the stock.

Vanguard Group Inc. grew its stake in shares of Fortrea by 1.2% during the fourth quarter.

Vanguard Group Inc. now owns 9,884,256 shares of the company’s stock worth $184,341,000 after purchasing an additional 120,599 shares during the period. Starboard Value LP boosted its holdings in Fortrea by 5.

0% during the third quarter. Starboard Value LP now owns 8,400,000 shares of the company’s stock worth $168,000,000 after buying an additional 400,000 shares during the last quarter. FMR LLC grew its position in shares of Fortrea by 67.

7% during the 4th quarter. FMR LLC now owns 8,086,806 shares of the company’s stock worth $150,819,000 after buying an additional 3,265,402 shares during the period. Corvex Management LP increased its stake in shares of Fortrea by 56.

7% in the 4th quarter. Corvex Management LP now owns 3,480,898 shares of the company’s stock valued at $64,919,000 after acquiring an additional 1,260,156 shares during the last quarter. Finally, State Street Corp raised its position in shares of Fortrea by 7.

7% in the 3rd quarter. State Street Corp now owns 3,250,693 shares of the company’s stock valued at $65,014,000 after acquiring an additional 233,577 shares during the period. Fortrea Stock Down 9.

6 % Shares of FTRE opened at $6.79 on Friday. The company has a quick ratio of 1.

18, a current ratio of 1.18 and a debt-to-equity ratio of 0.74.

The company has a 50-day moving average price of $12.51 and a two-hundred day moving average price of $17.11.

The stock has a market cap of $612.46 million, a price-to-earnings ratio of -1.99, a P/E/G ratio of 1.

78 and a beta of 2.10. Fortrea has a 12 month low of $6.

73 and a 12 month high of $40.57. Fortrea ( NASDAQ:FTRE – Get Free Report ) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $703.

22 million. Fortrea had a positive return on equity of 2.00% and a negative net margin of 10.

99%. During the same quarter last year, the business earned $0.19 EPS.

Equities analysts predict that Fortrea will post 0.51 EPS for the current fiscal year. Fortrea Company Profile ( Get Free Report 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. Read More Receive News & Ratings for Fortrea Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortrea and related companies with MarketBeat.

com's FREE daily email newsletter ..