Fortrea (NASDAQ:FTRE) Shares Gap Up After Better-Than-Expected Earnings

05 May 2026, 10:56 by Teresa Graham · The Cerbat Gem

Fortrea Holdings Inc. (NASDAQ:FTRE – Get Free Report)’s share price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $12.25, but opened at $13.97. Fortrea shares last traded at $14.3420, with a volume of 643,904 shares trading hands.

The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.13. Fortrea had a negative net margin of 36.21% and a positive return on equity of 6.23%. The business had revenue of $636.50 million for the quarter, compared to analyst estimates of $627.42 million.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Mizuho set a $15.00 target price on shares of Fortrea in a research report on Friday, January 9th. Evercore set a $25.00 price target on shares of Fortrea and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. TD Cowen upgraded shares of Fortrea from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Monday, March 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Fortrea in a research report on Tuesday, April 21st. Finally, Robert W. Baird lowered their price target on shares of Fortrea from $19.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Fortrea currently has a consensus rating of “Hold” and a consensus price target of $16.05.

View Our Latest Report on FTRE

Insider Activity

In other news, CFO Jill G. Mcconnell sold 5,061 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $9.07, for a total value of $45,903.27. Following the sale, the chief financial officer directly owned 69,796 shares of the company’s stock, valued at approximately $633,049.72. The trade was a 6.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 9,673 shares of company stock valued at $92,242. 0.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fortrea

Institutional investors and hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC raised its stake in shares of Fortrea by 136.7% in the 4th quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock valued at $32,000 after acquiring an additional 1,072 shares during the period. Toronto Dominion Bank purchased a new stake in shares of Fortrea in the 4th quarter valued at approximately $51,000. Nisa Investment Advisors LLC increased its stake in Fortrea by 214.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock worth $28,000 after buying an additional 2,278 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Fortrea by 27.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock worth $77,000 after buying an additional 980 shares during the period. Finally, Allworth Financial LP increased its stake in Fortrea by 19.6% during the 3rd quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock worth $57,000 after buying an additional 1,109 shares during the period.

Fortrea Stock Performance

The firm’s 50 day moving average is $9.88 and its two-hundred day moving average is $12.46. The stock has a market capitalization of $1.36 billion, a PE ratio of -1.30, a P/E/G ratio of 0.45 and a beta of 1.92. 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 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.