Across the recent three months, 8 analysts have shared their insights on Fortrea Holdings (NASDAQ:FTRE), expressing a variety of opinions spanning from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 0 | 2 | 4 | 2 | 0 |
| Last 30D | 0 | 0 | 0 | 1 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 0 | 0 | 4 | 0 | 0 |
| 3M Ago | 0 | 2 | 0 | 1 | 0 |
Analysts have set 12-month price targets for Fortrea Holdings, revealing an average target of $28.75, a high estimate of $36.00, and a low estimate of $26.00. Highlighting a 21.87% decrease, the current average has fallen from the previous average price target of $36.80.
Exploring Analyst Ratings: An In-Depth Overview
The analysis of recent analyst actions sheds light on the perception of Fortrea Holdings by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Derik De Bruin | B of A Securities | Lowers | Underperform | $26.00 | $27.00 |
| Matthew Sykes | Goldman Sachs | Announces | Neutral | $28.00 | - |
| Charles Rhyee | TD Cowen | Announces | Hold | $27.00 | - |
| Ann Hynes | Mizuho | Announces | Neutral | $27.00 | - |
| Justin Bowers | Deutsche Bank | Lowers | Hold | $28.00 | $36.00 |
| Derik De Bruin | B of A Securities | Lowers | Underperform | $27.00 | $33.00 |
| Elizabeth Anderson | Evercore ISI Group | Lowers | Outperform | $31.00 | $43.00 |
| Eric Coldwell | Baird | Lowers | Outperform | $36.00 | $45.00 |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Fortrea Holdings. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Fortrea Holdings compared to the broader market.
- Price Targets: Understanding forecasts, analysts offer estimates for Fortrea Holdings's future value. Examining the current and prior targets provides insight into analysts' changing expectations.
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Fortrea Holdings's market standing. Stay informed and make data-driven decisions with our Ratings Table.
Stay up to date on Fortrea Holdings analyst ratings.
Discovering Fortrea Holdings: A Closer Look
Fortrea Holdings is a late-stage contract research organization, or CRO, that provides comprehensive Phase I through IV clinical trial management, clinical pharmacology, and patient access solutions. The company works with emerging and large biopharma, medical device, and diagnostic companies to run their clinical trials as a functional-service provider, full-service provider, and offers hybrid trials. In 2023, Fortrea was formed as an independent, publicly traded company after LabCorp spun off its clinical development business, which it acquired via its purchase of Covance in 2015 for $6.1 billion. Fortrea has 19,000 staff members across 90 countries.
A Deep Dive into Fortrea Holdings's Financials
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Decline in Revenue: Over the 3 months period, Fortrea Holdings faced challenges, resulting in a decline of approximately -4.58% in revenue growth as of 31 March, 2024. This signifies a reduction in the company's top-line earnings. When compared to others in the Health Care sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Fortrea Holdings's net margin is impressive, surpassing industry averages. With a net margin of -15.25%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Fortrea Holdings's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -6.06%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Fortrea Holdings's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -2.35%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 1.06, caution is advised due to increased financial risk.
The Basics of Analyst Ratings
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.