Everett Harris & Co. CA Purchases New Holdings in Fortrea Holdings Inc. (NASDAQ:FTRE)

Everett Harris & Co. CA purchased a new stake in Fortrea Holdings Inc. (NASDAQ:FTRE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,125 shares of the company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Willis Investment Counsel acquired a new stake in Fortrea during the 4th quarter worth $6,286,000. Raymond James & Associates acquired a new stake in Fortrea during the 4th quarter worth $4,751,000. Cohen Klingenstein LLC acquired a new stake in Fortrea during the 4th quarter worth $948,000. Banyan Capital Management Inc. acquired a new stake in Fortrea during the 4th quarter worth $816,000. Finally, WealthBridge Investment Counsel Inc. acquired a new position in shares of Fortrea in the 4th quarter valued at $803,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FTRE shares. Jefferies Financial Group started coverage on shares of Fortrea in a report on Thursday, January 4th. They issued a “buy” rating and a $44.00 price target for the company. Citigroup raised shares of Fortrea from a “neutral” rating to a “buy” rating and boosted their price target for the company from $34.00 to $40.00 in a report on Monday, December 11th. Robert W. Baird started coverage on shares of Fortrea in a report on Friday, March 22nd. They issued a “neutral” rating and a $43.00 price target for the company. William Blair started coverage on shares of Fortrea in a report on Friday, January 5th. They issued a “market perform” rating for the company. Finally, Barclays cut their price objective on shares of Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.29.

Fortrea Price Performance

Shares of Fortrea stock traded up $0.06 during trading on Thursday, hitting $40.14. 534,426 shares of the stock were exchanged, compared to its average volume of 915,025. The company has a fifty day moving average price of $35.17 and a 200-day moving average price of $32.14. Fortrea Holdings Inc. has a 1-year low of $24.92 and a 1-year 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.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings results on Monday, March 11th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The company had revenue of $775.40 million for the quarter, compared to analyst estimates of $779.09 million. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts expect that Fortrea Holdings Inc. will post 1.09 earnings per share for the current year.

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.