Fractal Investments LLC Invests $244,000 in Fortrea Holdings Inc. (NASDAQ:FTRE)

Fractal Investments LLC purchased a new position in Fortrea Holdings Inc. (NASDAQ:FTRE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,000 shares of the company’s stock, valued at approximately $244,000.

A number of other large investors have also recently made changes to their positions in FTRE. Cohen Capital Management Inc. bought a new stake in Fortrea during the fourth quarter valued at $1,873,000. New York State Teachers Retirement System bought a new stake in Fortrea during the fourth quarter valued at $3,913,000. Mutual of America Capital Management LLC bought a new stake in Fortrea during the fourth quarter valued at $9,739,000. Willis Investment Counsel bought a new stake in Fortrea during the fourth quarter valued at $6,286,000. Finally, Nisa Investment Advisors LLC bought a new stake in Fortrea during the fourth quarter valued at $1,023,000.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FTRE shares. Deutsche Bank Aktiengesellschaft started coverage on Fortrea in a research note on Wednesday, March 6th. They set a “hold” rating and a $36.00 price objective for the company. Jefferies Financial Group initiated coverage on Fortrea in a research note on Thursday, January 4th. They set a “buy” rating and a $44.00 price objective for the company. Barclays lowered their price target on Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. William Blair began coverage on Fortrea in a report on Friday, January 5th. They issued a “market perform” rating for the company. Finally, Robert W. Baird began coverage on Fortrea in a report on Friday, March 22nd. They set a “neutral” rating and a $43.00 price objective on the stock. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.29.

Fortrea Stock Up 0.8 %

Fortrea stock traded up $0.31 during mid-day trading on Wednesday, hitting $37.25. The company’s stock had a trading volume of 875,199 shares, compared to its average volume of 883,531. The business has a 50 day moving average price of $37.82 and a 200-day moving average price of $33.53. Fortrea Holdings Inc. has a 12 month low of $24.92 and a 12 month high of $41.02. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.62 and a current ratio of 1.62.

Fortrea (NASDAQ:FTRE) last released its earnings results on Monday, March 11th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The firm had revenue of $775.40 million during the quarter, compared to the consensus estimate of $779.09 million. Fortrea’s revenue for the quarter was up 1.8% on a year-over-year basis. Research analysts anticipate that Fortrea Holdings Inc. will post 1.06 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.