Cohen Capital Management Inc. Invests $1.87 Million in Fortrea Holdings Inc. (NASDAQ:FTRE)

Cohen Capital Management Inc. bought a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 53,679 shares of the company’s stock, valued at approximately $1,873,000. Cohen Capital Management Inc. owned about 0.06% of Fortrea at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FTRE. Whittier Trust Co. of Nevada Inc. purchased a new position in Fortrea in the 4th quarter worth approximately $25,000. Whittier Trust Co. purchased a new stake in Fortrea in the 4th quarter valued at $25,000. ZRC Wealth Management LLC acquired a new stake in shares of Fortrea in the 4th quarter worth $27,000. Allworth Financial LP acquired a new position in shares of Fortrea during the 4th quarter valued at about $28,000. Finally, Clean Yield Group purchased a new stake in shares of Fortrea in the fourth quarter valued at about $30,000.

Wall Street Analysts Forecast Growth

FTRE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortrea in a report on Wednesday, March 6th. They issued a “hold” rating and a $36.00 target price on the stock. Jefferies Financial Group began coverage on shares of Fortrea in a report on Thursday, January 4th. They issued a “buy” rating and a $44.00 price objective on the stock. Barclays cut their price target on shares of Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. Robert W. Baird started coverage on shares of Fortrea in a research report on Friday, March 22nd. They set a “neutral” rating and a $43.00 price objective on the stock. Finally, William Blair assumed coverage on shares of Fortrea in a report on Friday, January 5th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $37.29.

Fortrea Price Performance

FTRE traded up $0.02 on Monday, reaching $35.52. The company had a trading volume of 1,054,172 shares, compared to its average volume of 882,557. Fortrea Holdings Inc. has a one year low of $24.92 and a one year high of $41.02. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.62 and a current ratio of 1.62. The company has a fifty day moving average of $37.73 and a 200-day moving average of $33.46.

Fortrea (NASDAQ:FTRE) last posted its quarterly earnings results on Monday, March 11th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The firm had revenue of $775.40 million for the quarter, compared to analyst estimates of $779.09 million. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, research analysts expect that Fortrea Holdings Inc. will post 1.06 EPS for the current year.

Fortrea Company Profile

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.