Fortrea (NASDAQ:FTRE) Given New $26.00 Price Target at Barclays

Fortrea (NASDAQ:FTRE) had its target price upped by Barclays from $23.00 to $26.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. TD Cowen raised their price objective on shares of Fortrea from $19.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Mizuho boosted their target price on shares of Fortrea from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Fortrea from a “hold” rating to a “buy” rating and upped their price target for the company from $20.00 to $25.00 in a research report on Thursday, October 15th. Evercore reaffirmed an “outperform” rating on shares of Fortrea in a research note on Wednesday, July 29th. Finally, Robert W. Baird set a $23.00 price target on shares of Fortrea in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortrea presently has an average rating of “Hold” and an average price target of $23.68.

Fortrea Stock Down 8.0%

Shares of NASDAQ:FTRE opened at $21.29 on Friday. Fortrea has a 52-week low of $8.55 and a 52-week high of $26.16. The company has a market capitalization of $2.02 billion, a PE ratio of -29.16, a price-to-earnings-growth ratio of 0.56 and a beta of 1.93. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.96 and a current ratio of 0.97. The company has a fifty day moving average of $20.28 and a 200-day moving average of $15.74.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.06. The company had revenue of $691.50 million for the quarter, compared to the consensus estimate of $671.57 million. Fortrea had a positive return on equity of 13.98% and a negative net margin of 2.58%. On average, equities analysts predict that Fortrea will post 0.86 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Anshul Thakral sold 99,869 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $19.16, for a total value of $1,913,490.04. Following the transaction, the chief executive officer owned 316,797 shares in the company, valued at $6,069,830.52. The trade was a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in Fortrea during the third quarter worth $97,000. China Universal Asset Management Co. Ltd. grew its holdings in Fortrea by 15.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 17,352 shares of the company’s stock worth $343,000 after purchasing an additional 2,296 shares during the period. Pullen Investment Management LLC bought a new stake in Fortrea in the third quarter valued at $2,220,000. Financial Management Professionals Inc. acquired a new position in shares of Fortrea during the third quarter valued at about $30,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Fortrea by 29.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,670 shares of the company’s stock worth $233,000 after purchasing an additional 2,633 shares in the last quarter.

Trending Headlines about Fortrea

Here are the key news stories impacting Fortrea this week:

• Positive Sentiment: Fortrea reported third-quarter adjusted earnings of $0.28 per share, above the $0.22 consensus estimate and up from $0.12 a year earlier. Revenue of $691.5 million also exceeded expectations of $671.6 million. Fortrea Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management forecast 2026 revenue of $2.665 billion to $2.690 billion and raised its adjusted EBITDA outlook to $210 million-$218 million, signaling improved expected operating profitability. Fortrea Raises Adjusted EBITDA Outlook
• Positive Sentiment: Barclays raised its price target from $23 to $26 and maintained an “overweight” rating, reflecting increased confidence in Fortrea’s valuation and earnings potential. Barclays Fortrea Rating
• Neutral Sentiment: Despite the earnings beat, Fortrea continues to report a negative net margin, so investors may remain focused on whether the improved EBITDA outlook translates into sustainable bottom-line earnings. Fortrea Third-Quarter Results
• Negative Sentiment: Fortrea shares fell after the results, indicating that investors may have viewed the revised guidance, business outlook, or earnings quality as less compelling than the headline quarterly beat. Fortrea Shares Drop After Q3 Results

Fortrea Company Profile

Fortrea Holdings Inc is a global contract research organization (CRO) that provides services to pharmaceutical, biotechnology and medical device companies. The company helps clients plan, manage and execute clinical development programs, supporting the testing of new medicines and therapies from early-stage research through regulatory approval and post-approval activities.

Its services include Phase I through Phase IV clinical trials, clinical operations, patient recruitment and access, data management, biostatistics, medical monitoring, pharmacovigilance and regulatory support.