5,830 Shares in Fortrea Holdings Inc. (NASDAQ:FTRE) Bought by Forte Capital LLC ADV

Forte Capital LLC ADV acquired a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,830 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors have also recently added to or reduced their stakes in FTRE. Whittier Trust Co. acquired a new position in Fortrea during the 4th quarter worth $25,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Fortrea during the 4th quarter worth $25,000. ZRC Wealth Management LLC acquired a new position in Fortrea during the 4th quarter worth $27,000. Allworth Financial LP acquired a new position in Fortrea during the 4th quarter worth $28,000. Finally, CENTRAL TRUST Co acquired a new position in Fortrea during the 4th quarter worth $30,000.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FTRE. Robert W. Baird began coverage on Fortrea in a report on Friday, March 22nd. They issued a “neutral” rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on Fortrea in a report on Wednesday, March 6th. They issued a “hold” rating and a $36.00 price objective for the company. Finally, Barclays cut their price objective on Fortrea from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.29.

Fortrea Price Performance

Shares of NASDAQ:FTRE traded up $0.76 during midday trading on Friday, reaching $37.41. The company had a trading volume of 560,477 shares, compared to its average volume of 802,820. 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 Holdings Inc. has a 1-year low of $24.92 and a 1-year high of $41.02. The company has a fifty day simple moving average of $38.01 and a two-hundred day simple moving average of $33.92.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings data on Monday, March 11th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates 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 revenue for the quarter was up 1.8% compared to the same quarter last year. Research analysts forecast that Fortrea Holdings Inc. will post 1.06 earnings per share for the current year.

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.