In the past week, FTRE stock has gone down by -8.37%, with a monthly decline of -9.18% and a quarterly surge of 20.00%. The volatility ratio for the week is 3.40%, and the volatility levels for the last 30 days are 3.20% for Fortrea Holdings Inc The simple moving average for the last 20 days is -7.71% for FTRE stock, with a simple moving average of 12.34% for the last 200 days.
Is It Worth Investing in Fortrea Holdings Inc (NASDAQ: FTRE) Right Now?
There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for FTRE is 89.23M, and at present, short sellers hold a 5.21% of that float. The average trading volume of FTRE on April 19, 2024 was 808.20K shares.
FTRE) stock’s latest price update
The stock price of Fortrea Holdings Inc (NASDAQ: FTRE) has plunged by -1.40 when compared to previous closing price of 36.51, but the company has seen a -8.37% decline in its stock price over the last five trading sessions. GlobeNewsWire reported 2024-04-11 that DURHAM, N.C., April 11, 2024 (GLOBE NEWSWIRE) — Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (CRO), today announced that it will release its first quarter 2024 financial results before the market opens on Tuesday, May 7, 2024. Fortrea will host a conference call at 9:00 am ET that day to review its financial results and conduct a question-and-answer session.
Analysts’ Opinion of FTRE
Many brokerage firms have already submitted their reports for FTRE stocks, with Robert W. Baird repeating the rating for FTRE by listing it as a “Neutral.” The predicted price for FTRE in the upcoming period, according to Robert W. Baird is $43 based on the research report published on March 22, 2024 of the current year 2024.
Deutsche Bank, on the other hand, stated in their research note that they expect to see FTRE reach a price target of $36. The rating they have provided for FTRE stocks is “Hold” according to the report published on March 06th, 2024.
FTRE Trading at -3.35% from the 50-Day Moving Average
After a stumble in the market that brought FTRE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -12.24% of loss for the given period.
Volatility was left at 3.20%, however, over the last 30 days, the volatility rate increased by 3.40%, as shares sank -10.02% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +15.24% upper at present.
During the last 5 trading sessions, FTRE fell by -8.37%, which changed the moving average for the period of 200-days by -2.28% in comparison to the 20-day moving average, which settled at $38.81. In addition, Fortrea Holdings Inc saw 3.15% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at FTRE starting from Pike Thomas, who purchase 20,000 shares at the price of $25.23 back on Aug 23 ’23. After this action, Pike Thomas now owns 20,000 shares of Fortrea Holdings Inc, valued at $504,640 using the latest closing price.
NEUPERT PETER M, the Director of Fortrea Holdings Inc, purchase 11,000 shares at $25.30 during a trade that took place back on Aug 23 ’23, which means that NEUPERT PETER M is holding 21,996 shares at $278,256 based on the most recent closing price.
Stock Fundamentals for FTRE
Current profitability levels for the company are sitting at:
- 0.02 for the present operating margin
- 0.17 for the gross margin
The net margin for Fortrea Holdings Inc stands at -0.01. The total capital return value is set at 0.02.
Based on Fortrea Holdings Inc (FTRE), the company’s capital structure generated 0.49 points at debt to capital in total, while cash flow to debt ratio is standing at 0.1. The debt to equity ratio resting at 0.97. The interest coverage ratio of the stock is 0.55.
Currently, EBITDA for the company is 190.7 million with net debt to EBITDA at 8.42. When we switch over and look at the enterprise to sales, we see a ratio of 1.54. The receivables turnover for the company is 2.89for trailing twelve months and the total asset turnover is 0.71. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.62.
Conclusion
In summary, Fortrea Holdings Inc (FTRE) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
