Hunter Associates Investment Management LLC Takes $652,000 Position in Fortrea Holdings Inc. (NASDAQ:FTRE)

Hunter Associates Investment Management LLC purchased a new stake in Fortrea Holdings Inc. (NASDAQ:FTRE) in the fourth quarter, Holdings Channel reports. The firm purchased 18,822 shares of the company’s stock, valued at approximately $652,000.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on FTRE shares. Jefferies Financial Group started coverage on Fortrea in a research report on Thursday, January 4th. They issued a “buy” rating and a $44.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on Fortrea in a research report on Wednesday, March 6th. They issued a “hold” rating and a $36.00 price objective for the company. William Blair started coverage on Fortrea in a research report on Friday, January 5th. They issued a “market perform” rating for the company. Robert W. Baird started coverage on Fortrea in a research report on Friday, March 22nd. They issued a “neutral” rating and a $43.00 price objective for the company. Finally, Barclays lowered 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.29.

Fortrea Trading Down 1.4 %

Shares of FTRE traded down $0.50 during midday trading on Friday, hitting $35.50. 1,111,056 shares of the stock were exchanged, compared to its average volume of 661,873. 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 simple moving average of $37.67 and a 200 day simple moving average of $33.32. 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 announced its quarterly earnings data on Monday, March 11th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.04). The firm had revenue of $775.40 million during the quarter, compared to analyst estimates of $779.09 million. The business’s revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts forecast that Fortrea Holdings Inc. will post 1.06 earnings per share for the current fiscal 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.