Fortrea (NASDAQ:FTRE) CAO Robert Parks Sells 1,927 Shares

by · The Markets Daily

Fortrea Holdings Inc. (NASDAQ:FTRE – Get Free Report) CAO Robert Parks sold 1,927 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $9.07, for a total value of $17,477.89. Following the sale, the chief accounting officer directly owned 22,389 shares of the company’s stock, valued at $203,068.23. This trade represents a 7.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Fortrea Stock Down 2.9%

Shares of NASDAQ FTRE traded down $0.28 during trading hours on Thursday, hitting $9.14. The stock had a trading volume of 274,171 shares, compared to its average volume of 1,738,228. The firm’s 50-day moving average price is $13.92 and its two-hundred day moving average price is $12.45. Fortrea Holdings Inc. has a 52 week low of $3.97 and a 52 week high of $18.67. The company has a market capitalization of $854.87 million, a P/E ratio of -0.83, a P/E/G ratio of 0.32 and a beta of 1.80. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.98 and a current ratio of 0.98.

Fortrea (NASDAQ:FTRE – Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). The business had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.22 million. Fortrea had a negative net margin of 36.21% and a positive return on equity of 6.23%. Analysts anticipate that Fortrea Holdings Inc. will post 0.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FTRE shares. Mizuho set a $15.00 price target on Fortrea in a research report on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Fortrea in a report on Thursday, January 22nd. Robert W. Baird lowered their price target on Fortrea from $19.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Truist Financial set a $22.00 price target on shares of Fortrea and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Wedbush set a $21.00 price objective on shares of Fortrea in a report on Thursday, December 11th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Fortrea has a consensus rating of “Hold” and a consensus price target of $16.15.

Read Our Latest Stock Analysis on Fortrea

Institutional Trading of Fortrea

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP increased its position in Fortrea by 6,802.4% in the 2nd quarter. Allworth Financial LP now owns 5,660 shares of the company’s stock worth $28,000 after buying an additional 5,578 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Fortrea by 214.3% in the third quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock worth $28,000 after acquiring an additional 2,278 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Fortrea by 136.7% in the fourth quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock worth $32,000 after acquiring an additional 1,072 shares during the last quarter. Osaic Holdings Inc. increased its position in Fortrea by 74.3% during the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after acquiring an additional 2,918 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Fortrea by 137.0% during the second quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock worth $43,000 after acquiring an additional 5,036 shares during the period.

Fortrea Company Profile

(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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