Fortrea Holdings Inc. (NASDAQ:FTRE - Get Free Report) CFO Jill Mcconnell sold 881 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $13.88, for a total value of $12,228.28. Following the transaction, the chief financial officer directly owned 59,574 shares of the company's stock, valued at approximately $826,887.12. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Fortrea Stock Performance
Shares of FTRE opened at $11.59 on Thursday. Fortrea Holdings Inc. has a 1 year low of $3.97 and a 1 year high of $18.67. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.00 and a quick ratio of 1.00. The stock's fifty day moving average price is $16.38 and its two-hundred day moving average price is $12.01. The firm has a market cap of $1.07 billion, a PE ratio of -1.03, a PEG ratio of 0.40 and a beta of 1.59.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Brandes Investment Partners LP boosted its stake in Fortrea by 72.8% in the second quarter. Brandes Investment Partners LP now owns 224,272 shares of the company's stock worth $1,108,000 after buying an additional 94,448 shares in the last quarter. Bank of Nova Scotia bought a new position in shares of Fortrea during the 2nd quarter valued at $5,087,000. ProShare Advisors LLC bought a new position in shares of Fortrea during the 2nd quarter valued at $117,000. Allianz Asset Management GmbH raised its position in Fortrea by 335.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 254,106 shares of the company's stock worth $1,255,000 after purchasing an additional 195,706 shares during the period. Finally, Brighton Jones LLC bought a new stake in Fortrea in the second quarter worth $156,000.
Wall Street Analyst Weigh In
FTRE has been the topic of several recent research reports. Truist Financial set a $22.00 price objective on shares of Fortrea and gave the company a "buy" rating in a report on Thursday, January 8th. Mizuho set a $15.00 price objective on shares of Fortrea in a report on Friday, January 9th. Wedbush set a $21.00 price objective on shares of Fortrea in a research note on Thursday, December 11th. Zacks Research downgraded Fortrea from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 20th. Finally, Robert W. Baird set a $19.00 price target on Fortrea in a report on Wednesday, January 14th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Fortrea has a consensus rating of "Hold" and an average target price of $16.75.
Read Our Latest Report on Fortrea
About Fortrea
(
Get Free Report)
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.
Further Reading
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