Handelsbanken Fonder AB bought a new position in Fortrea Holdings Inc. (NASDAQ:FTRE – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,700 shares of the company’s stock, valued at approximately $513,000.
A number of other large investors have also bought and sold shares of the company. Whittier Trust Co. purchased a new position in shares of Fortrea in the fourth quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Fortrea in the fourth quarter valued at $25,000. ZRC Wealth Management LLC purchased a new position in shares of Fortrea in the fourth quarter valued at $27,000. Allworth Financial LP purchased a new position in shares of Fortrea in the fourth quarter valued at $28,000. Finally, CENTRAL TRUST Co purchased a new position in shares of Fortrea in the fourth quarter valued at $30,000.
Fortrea Trading Up 1.5 %
NASDAQ:FTRE opened at $37.14 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. The stock has a fifty day moving average of $37.99 and a 200 day moving average of $33.81. Fortrea Holdings Inc. has a 52-week low of $24.92 and a 52-week high of $41.02.
Analysts Set New Price Targets
FTRE has been the subject of several recent research reports. Barclays reduced their price target on Fortrea from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. Robert W. Baird initiated coverage on Fortrea in a research report on Friday, March 22nd. They issued a “neutral” rating and a $43.00 price target for the company. Deutsche Bank Aktiengesellschaft initiated 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. Finally, William Blair initiated coverage on Fortrea in a research note on Friday, January 5th. They set a “market perform” rating for the company. One equities research 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, Fortrea presently has an average rating of “Hold” and a consensus target price of $37.29.
View Our Latest Analysis on Fortrea
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.
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