Fortrea Holdings (FTRE) Plunges 20.16% to Record Low on Investigation News

Fortrea Holdings (FTRE) experienced a significant decline today, with its share price dropping to a record low, marking an intraday decrease of 20.16%.

On March 3, 2025, Fortrea's stock price fell sharply after Pomerantz LLP announced an investigation into the company. This news led to a 25.05% drop in the stock price, closing at $10.38 per share. The investigation has raised concerns among investors about potential legal and financial implications for the company.

Barclays recently downgraded Fortrea's stock rating and halved its price target to $6. This decision was driven by the company's weaker-than-expected fourth-quarter earnings, which reported an EPS of $0.18, falling short of analyst estimates. The downgrade has further dampened investor sentiment, contributing to the stock's decline.

Mizuho analyst Ann Hynes also revised her price target for Fortrea, lowering it from $12 to $10 while maintaining a Neutral rating on the shares. This adjustment reflects the analyst's cautious outlook on the company's near-term prospects, given the recent challenges and uncertainties.

On March 24, 2025, a sell signal was issued from a pivot top point, resulting in a stock price decline of 39.36% so far. Further declines are anticipated as market participants continue to reassess the company's fundamentals and outlook. The combination of these factors has created a challenging environment for Fortrea Holdings, with investors remaining cautious about the stock's future performance.