10,000 Shares in Fortrea Holdings Inc. (NASDAQ:FTRE) Bought by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc bought a new position in Fortrea Holdings Inc. (NASDAQ:FTRE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,000 shares of the company’s stock, valued at approximately $349,000.

A number of other hedge funds have also modified their holdings of FTRE. Whittier Trust Co. purchased a new position in shares of Fortrea during the fourth quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Fortrea during the fourth quarter valued at $25,000. ZRC Wealth Management LLC purchased a new position in shares of Fortrea during the fourth quarter valued at $27,000. Allworth Financial LP purchased a new position in shares of Fortrea during the fourth quarter valued at $28,000. Finally, CENTRAL TRUST Co purchased a new position in shares of Fortrea during the fourth quarter valued at $30,000.

Fortrea Trading Up 4.0 %

Shares of NASDAQ:FTRE opened at $36.94 on Wednesday. Fortrea Holdings Inc. has a fifty-two week low of $24.92 and a fifty-two week high of $41.02. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average of $37.82 and a two-hundred day moving average of $33.53.

Fortrea (NASDAQ:FTRE) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $779.09 million. The firm’s revenue was up 1.8% on a year-over-year basis. On average, research analysts anticipate that Fortrea Holdings Inc. will post 1.06 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.