11,616 Shares in Fortrea Holdings Inc. (NASDAQ:FTRE) Acquired by Capital Analysts LLC

Capital Analysts LLC acquired a new stake in Fortrea Holdings Inc. (NASDAQ:FTRE) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,616 shares of the company’s stock, valued at approximately $405,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Fortrea in the fourth quarter valued at about $25,000. Whittier Trust Co. bought a new stake in Fortrea in the 4th quarter valued at about $25,000. ZRC Wealth Management LLC bought a new stake in Fortrea in the 4th quarter valued at about $27,000. Allworth Financial LP acquired a new position in shares of Fortrea during the 4th quarter worth approximately $28,000. Finally, Clean Yield Group bought a new position in shares of Fortrea during the fourth quarter worth approximately $30,000.

Fortrea Trading Down 0.8 %

Fortrea stock opened at $36.51 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.62 and a quick ratio of 1.62. Fortrea Holdings Inc. has a 52 week low of $24.92 and a 52 week high of $41.02. The stock has a fifty day moving average of $37.51 and a 200-day moving average of $33.24.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Robert W. Baird started coverage on Fortrea in a research note on Friday, March 22nd. They issued a “neutral” rating and a $43.00 price target for the company. Jefferies Financial Group initiated coverage on Fortrea in a research report on Thursday, January 4th. They set a “buy” rating and a $44.00 target price for the company. William Blair began coverage on Fortrea in a research report on Friday, January 5th. They issued a “market perform” rating on the stock. Barclays dropped their price target on Fortrea from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortrea in a research note on Wednesday, March 6th. They set a “hold” rating and a $36.00 price objective on the stock. 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 MarketBeat.com, the company presently has an average 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.