Fortrea (NASDAQ:FTRE) Given New $25.00 Price Target at TD Cowen

Fortrea (NASDAQ:FTRE) had its price objective increased by TD Cowen from $23.00 to $25.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.

FTRE has been the subject of several other reports. William Blair restated a “market perform” rating on shares of Fortrea in a report on Friday, November 8th. Bank of America dropped their price objective on Fortrea from $26.00 to $21.00 and set an “underperform” rating for the company in a research note on Tuesday, August 13th. Jefferies Financial Group downgraded shares of Fortrea from a “buy” rating to a “hold” rating and decreased their target price for the stock from $25.00 to $21.00 in a research note on Wednesday, September 25th. Citigroup dropped their price target on shares of Fortrea from $42.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, Robert W. Baird boosted their price objective on shares of Fortrea from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.50.

Fortrea Stock Down 5.1 %

FTRE stock opened at $20.20 on Monday. Fortrea has a one year low of $16.53 and a one year high of $41.02. The company’s 50 day moving average price is $19.68 and its two-hundred day moving average price is $23.75. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 1.19.

Fortrea (NASDAQ:FTRE) last issued its earnings results on Friday, November 8th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Fortrea had a positive return on equity of 2.00% and a negative net margin of 10.99%. The business had revenue of $674.90 million during the quarter, compared to analysts’ expectations of $674.86 million. During the same quarter in the previous year, the business earned $0.24 EPS. Fortrea’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities research analysts forecast that Fortrea will post 0.57 earnings per share for the current year.

Institutional Trading of Fortrea

Large investors have recently bought and sold shares of the company. nVerses Capital LLC bought a new stake in shares of Fortrea during the 2nd quarter valued at $26,000. Hara Capital LLC bought a new stake in Fortrea during the third quarter worth about $29,000. Gladius Capital Management LP purchased a new stake in Fortrea in the second quarter worth about $30,000. Blue Trust Inc. increased its stake in shares of Fortrea by 2,515.8% during the second quarter. Blue Trust Inc. now owns 1,491 shares of the company’s stock valued at $35,000 after purchasing an additional 1,434 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. lifted its holdings in shares of Fortrea by 125.0% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 2,250 shares of the company’s stock valued at $53,000 after purchasing an additional 1,250 shares during the last quarter.

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.