Fortrea (NASDAQ:FTRE) Upgraded at Baird R W

Fortrea (NASDAQ:FTREGet Free Report) was upgraded by Baird R W from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks.com reports.

Several other equities research analysts also recently issued reports on FTRE. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortrea in a research report on Wednesday, March 6th. They set a “hold” rating and a $36.00 price objective for the company. Evercore ISI lowered their price objective on shares of Fortrea from $43.00 to $31.00 and set an “outperform” rating for the company in a research report on Tuesday. Robert W. Baird raised shares of Fortrea from a “neutral” rating to an “outperform” rating and lowered their price objective for the stock from $45.00 to $36.00 in a research report on Tuesday. Bank of America decreased their target price on shares of Fortrea from $33.00 to $27.00 and set an “underperform” rating for the company in a research report on Tuesday. Finally, Barclays decreased their target price on shares of Fortrea from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.57.

Read Our Latest Analysis on Fortrea

Fortrea Stock Up 2.6 %

Shares of NASDAQ:FTRE opened at $28.84 on Tuesday. Fortrea has a 52 week low of $24.92 and a 52 week high of $41.02. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.62 and a current ratio of 1.47. The company has a market capitalization of $2.58 billion and a PE ratio of -20.75. The company has a 50 day moving average price of $37.50 and a two-hundred day moving average price of $34.22.

Fortrea (NASDAQ:FTREGet Free Report) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter. Fortrea had a positive return on equity of 4.76% and a negative net margin of 4.11%. The company had revenue of $662.10 million for the quarter, compared to the consensus estimate of $754.58 million. Fortrea’s revenue for the quarter was down 4.6% compared to the same quarter last year. Analysts forecast that Fortrea will post 1.06 earnings per share for the current year.

Institutional Trading of Fortrea

Large investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in Fortrea in the fourth quarter valued at $25,000. Whittier Trust Co. acquired a new stake in Fortrea in the fourth quarter valued at $25,000. ZRC Wealth Management LLC acquired a new stake in Fortrea in the fourth quarter valued at $27,000. Allworth Financial LP acquired a new stake in shares of Fortrea during the 4th quarter worth about $28,000. Finally, Glassman Wealth Services acquired a new stake in shares of Fortrea during the 4th quarter worth about $28,000.

Fortrea Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Fortrea (NASDAQ:FTRE)

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