Everett Harris & Co. CA purchased a new stake in Fortrea Holdings Inc. (NASDAQ:FTRE – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,125 shares of the company’s stock, valued at approximately $214,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Willis Investment Counsel purchased a new position in Fortrea in the fourth quarter valued at about $6,286,000. Raymond James & Associates bought a new position in Fortrea during the 4th quarter worth approximately $4,751,000. Cohen Klingenstein LLC bought a new position in Fortrea during the 4th quarter worth approximately $948,000. Banyan Capital Management Inc. bought a new position in Fortrea during the 4th quarter worth approximately $816,000. Finally, WealthBridge Investment Counsel Inc. bought a new position in Fortrea during the 4th quarter worth approximately $803,000.
Fortrea Price Performance
Shares of Fortrea stock traded up $0.06 on Thursday, reaching $40.14. 534,426 shares of the company were exchanged, compared to its average volume of 915,025. 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 stock has a fifty day moving average price of $35.17 and a 200-day moving average price of $32.14.
Wall Street Analysts Forecast Growth
A number of research firms have commented on FTRE. Barclays reduced their target price on Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Evercore ISI upgraded Fortrea from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $32.00 to $36.00 in a research report on Friday, December 1st. Jefferies Financial Group initiated coverage on Fortrea in a research report on Thursday, January 4th. They set a “buy” rating and a $44.00 price objective for the company. Citigroup upgraded Fortrea from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $40.00 in a research report on Monday, December 11th. Finally, Robert W. Baird initiated 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. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.29.
View Our Latest Report on FTRE
Fortrea 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.
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