Capital Analysts LLC Makes New Investment in Fortrea Holdings Inc. (NASDAQ:FTRE)

Capital Analysts LLC purchased a new stake in Fortrea Holdings Inc. (NASDAQ:FTRE) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 11,616 shares of the company’s stock, valued at approximately $405,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. bought a new position in Fortrea in the 4th quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. purchased a new position in Fortrea during the fourth quarter valued at approximately $25,000. ZRC Wealth Management LLC purchased a new stake in Fortrea in the 4th quarter worth approximately $27,000. Allworth Financial LP bought a new position in Fortrea in the 4th quarter valued at $28,000. Finally, CENTRAL TRUST Co bought a new position in Fortrea in the 4th quarter valued at $30,000.

Analyst Ratings Changes

Several research firms have recently weighed in on FTRE. Barclays decreased their price target on shares of Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Jefferies Financial Group initiated coverage on Fortrea in a research note on Thursday, January 4th. They issued a “buy” rating and a $44.00 target price on the stock. Robert W. Baird assumed coverage on Fortrea in a research report on Friday, March 22nd. They set a “neutral” rating and a $43.00 price target for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortrea in a research report on Wednesday, March 6th. They issued a “hold” rating and a $36.00 price objective on the stock. Finally, William Blair started coverage on shares of Fortrea in a research note on Friday, January 5th. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.29.

Fortrea Stock Performance

NASDAQ FTRE opened at $36.51 on Thursday. Fortrea Holdings Inc. has a fifty-two week low of $24.92 and a fifty-two week high of $41.02. The stock has a 50 day simple moving average of $37.51 and a two-hundred day simple moving average of $33.24. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.90.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings results on Monday, March 11th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). The company had revenue of $775.40 million for the quarter, compared to analyst estimates of $779.09 million. The company’s revenue was up 1.8% on a year-over-year basis. Research analysts forecast that Fortrea Holdings Inc. will post 1.06 earnings per share for the current year.

About Fortrea

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.