In last trading session, Fortrea Holdings Inc (NASDAQ:FTRE) saw 0.44 million shares changing hands with its beta currently measuring 1.13. Company’s recent per share price level of $21.43 trading at -$0.12 or -0.56% at ring of the bell on the day assigns it a market valuation of $1.92B. That closing price of FTRE’s stock is at a discount of -91.41% from its 52-week high price of $41.02 and is indicating a premium of 22.87% from its 52-week low price of $16.53. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.0 million shares which gives us an average trading volume of 1.49 million if we extend that period to 3-months.
For Fortrea Holdings Inc (FTRE), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 2.62. Splitting up the data highlights that, out of 7 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 4 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 0.38 in the current quarter.
Fortrea Holdings Inc (NASDAQ:FTRE) trade information
Upright in the red during last session for losing -0.56%, in the last five days FTRE remained trading in the green while hitting it’s week-highest on Friday, 11/29/24 when the stock touched $21.43 price level, adding 0.97% to its value on the day. Fortrea Holdings Inc’s shares saw a change of -38.60% in year-to-date performance and have moved 9.90% in past 5-day. Fortrea Holdings Inc (NASDAQ:FTRE) showed a performance of 24.96% in past 30-days. Number of shares sold short was 5.51 million shares which calculate 3.87 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 28 to the stock, which implies a rise of 23.46% to its current value. Analysts have been projecting 22 as a low price target for the stock while placing it at a high target of 36.5. It follows that stock’s current price would drop -2.66% in reaching the projected high whereas dropping to the targeted low would mean a loss of -2.66% for stock’s current value.
Fortrea Holdings Inc (FTRE) estimates and forecasts
Statistics highlight that Fortrea Holdings Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -15.60% of value to its shares in past 6 months, showing an annual growth rate of -59.29% while that of industry is 17.70. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. This year revenue growth is estimated to fall -13.05% from the last financial year’s standing.
10 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 703.9M for the same. And 7 analysts are in estimates of company making revenue of 663.42M in the next quarter. Company posted 775.4M and 662.1M of sales in current and next quarters respectively a year earlier.
In 2024, company’s earnings growth rate is likely to be around -62.50% while estimates for its earnings growth in next 5 years are of 7.56%.
Fortrea Holdings Inc (NASDAQ:FTRE)’s Major holders
Insiders are in possession of 0.28% of company’s total shares while institution are holding 112.91 percent of that, with stock having share float percentage of 113.23%. Investors also watch the number of corporate investors in a company very closely, which is 112.91% institutions for Fortrea Holdings Inc that are currently holding shares of the company.
On the other hand, iShares Core S&P Smallcap ETF and Blackrock Equity Dividend Fund are the top two Mutual Funds which own company’s shares. As of Aug 31, 2024 , the former fund manager was holding 5.79 shares of worth $121.81 million or 6.45% of the total outstanding shares. The later fund manager was in possession of 2.93 shares on Jul 31, 2024 , making its stake of worth around $61.67 million in the company or a holder of 3.27% of company’s stock.
