Clifford Swan Investment Counsel LLC purchased a new stake in Fortrea Holdings Inc. (NASDAQ:FTRE – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 24,681 shares of the company’s stock, valued at approximately $861,000.
Several other large investors have also recently added to or reduced their stakes in FTRE. Whittier Trust Co. acquired a new position in shares of Fortrea in the 4th quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Fortrea during the 4th quarter worth $25,000. ZRC Wealth Management LLC acquired a new stake in shares of Fortrea in the 4th quarter valued at about $27,000. Allworth Financial LP acquired a new stake in shares of Fortrea in the 4th quarter valued at about $28,000. Finally, CENTRAL TRUST Co acquired a new stake in shares of Fortrea in the 4th quarter valued at about $30,000.
Fortrea Price Performance
FTRE traded down $1.07 on Monday, hitting $36.34. 1,342,195 shares of the stock were exchanged, compared to its average volume of 875,328. The business has a 50-day moving average of $38.01 and a two-hundred day moving average of $33.96. 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 12 month low of $24.92 and a 12 month high of $41.02.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Barclays dropped their price target on Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on Fortrea in a report on Wednesday, March 6th. They set a “hold” rating and a $36.00 price target for the company. Finally, Robert W. Baird started coverage on Fortrea in a report on Friday, March 22nd. They set a “neutral” rating and a $43.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.29.
View Our Latest Report on Fortrea
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.
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