Key Points
- Insider sale: Fortrea CAO Robert Parks sold 1,927 shares on March 10 at an average price of $9.07, trimming his stake by 7.92% to 22,389 shares (≈$203,068).
- Earnings miss and weak margins: Fortrea reported Q results with EPS $0.09 vs. $0.16 expected and revenue slightly below estimates, has a negative net margin and a negative P/E, and its stock (~$9.14) trades well below its 50‑day ($13.92) and 200‑day ($12.45) averages.
- Mixed analyst and institutional view: Analysts are split (five Buy, five Hold, one Sell) with a consensus rating of "Hold" and a $16.15 target, while large institutions like Vanguard and Goldman Sachs have recently increased positions.
Fortrea Holdings Inc. (NASDAQ:FTRE - Get Free Report) CAO Robert Parks sold 1,927 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $9.07, for a total transaction of $17,477.89. Following the transaction, the chief accounting officer owned 22,389 shares in the company, valued at approximately $203,068.23. The trade was a 7.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Fortrea Stock Performance
Shares of NASDAQ FTRE traded down $0.28 during mid-day trading on Thursday, hitting $9.14. The company had a trading volume of 274,171 shares, compared to its average volume of 1,738,228. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.98 and a quick ratio of 0.98. The business's 50-day simple moving average is $13.92 and its 200-day simple moving average is $12.45. Fortrea Holdings Inc. has a 12 month low of $3.97 and a 12 month high of $18.67. The firm has a market cap of $854.87 million, a P/E ratio of -0.83, a PEG ratio of 0.32 and a beta of 1.80.
Fortrea (NASDAQ:FTRE - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.07). The firm had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.22 million. Fortrea had a positive return on equity of 6.23% and a negative net margin of 36.21%. As a group, analysts predict that Fortrea Holdings Inc. will post 0.51 earnings per share for the current fiscal year.
Analysts Set New Price Targets
FTRE has been the topic of a number of research reports. Citigroup upgraded Fortrea from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $12.00 to $21.00 in a research report on Thursday, December 11th. Truist Financial set a $22.00 price target on shares of Fortrea and gave the stock a "buy" rating in a research note on Thursday, January 8th. Barclays lowered their price target on shares of Fortrea from $15.00 to $12.00 and set an "equal weight" rating on the stock in a report on Friday, February 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Fortrea in a research note on Thursday, January 22nd. Finally, Evercore set a $25.00 price objective on shares of Fortrea and gave the stock an "outperform" rating in a report on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.15.
Check Out Our Latest Research Report on FTRE
Institutional Trading of Fortrea
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Fortrea by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 8,331,016 shares of the company's stock valued at $143,710,000 after acquiring an additional 258,098 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Fortrea by 3.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,272,597 shares of the company's stock valued at $142,702,000 after acquiring an additional 293,992 shares during the period. AQR Capital Management LLC boosted its stake in shares of Fortrea by 494.8% in the 2nd quarter. AQR Capital Management LLC now owns 6,515,124 shares of the company's stock valued at $31,729,000 after purchasing an additional 5,419,842 shares in the last quarter. State Street Corp boosted its stake in shares of Fortrea by 1.0% in the 4th quarter. State Street Corp now owns 4,110,899 shares of the company's stock valued at $70,913,000 after purchasing an additional 39,777 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Fortrea by 21.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,219,029 shares of the company's stock worth $55,528,000 after purchasing an additional 565,891 shares during the last quarter.
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.
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