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

Fortrea (NASDAQ:FTRE) had its target price increased by Barclays from $20.00 to $25.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities research analysts have also weighed in on FTRE. Jefferies Financial Group lowered shares of Fortrea from a “buy” rating to a “hold” rating and reduced their target price for the stock from $25.00 to $21.00 in a report on Wednesday, September 25th. Citigroup cut their target price on shares of Fortrea from $42.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. TD Cowen lowered their price objective on shares of Fortrea from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Fortrea from $28.00 to $23.00 and set a “hold” rating on the stock in a report on Tuesday, August 20th. Finally, Bank of America reduced their price target on shares of Fortrea from $26.00 to $21.00 and set an “underperform” rating for the company in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.50.

Fortrea Trading Down 3.2 %

Shares of NASDAQ:FTRE opened at $22.75 on Monday. Fortrea has a 12 month low of $16.53 and a 12 month high of $41.02. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.77. The company’s fifty day simple moving average is $19.69 and its 200 day simple moving average is $23.89. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -6.65, a PEG ratio of 3.78 and a beta of 0.70.

Fortrea (NASDAQ:FTRE) last announced its earnings results on Friday, November 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). Fortrea had a positive return on equity of 1.98% and a negative net margin of 10.09%. The company had revenue of $674.90 million for the quarter, compared to the consensus estimate of $674.86 million. During the same period in the previous year, the firm posted $0.24 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, research analysts forecast that Fortrea will post 0.59 EPS for the current fiscal year.

Institutional Trading of Fortrea

Several institutional investors and hedge funds have recently modified their holdings of FTRE. nVerses Capital LLC purchased a new position in Fortrea during the second quarter valued at $26,000. Hara Capital LLC purchased a new position in shares of Fortrea during the 3rd quarter worth about $29,000. Gladius Capital Management LP bought a new stake in Fortrea during the 2nd quarter valued at about $30,000. Blue Trust Inc. lifted its holdings in Fortrea by 2,515.8% during the 2nd quarter. Blue Trust Inc. now owns 1,491 shares of the company’s stock valued at $35,000 after buying an additional 1,434 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. raised its holdings in shares of Fortrea by 125.0% in the 2nd 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 in 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.