Duncker Streett & Co. Inc. acquired a new stake in Fortrea Holdings Inc. (NASDAQ:FTRE – Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,473 shares of the company’s stock, valued at approximately $51,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Penn Davis Mcfarland Inc. acquired a new position in Fortrea during the fourth quarter worth $18,810,000. Mutual of America Capital Management LLC acquired a new position in shares of Fortrea in the fourth quarter valued at $9,739,000. Willis Investment Counsel acquired a new position in shares of Fortrea in the fourth quarter valued at $6,286,000. Raymond James & Associates acquired a new position in shares of Fortrea in the fourth quarter valued at $4,751,000. Finally, New York State Teachers Retirement System acquired a new position in shares of Fortrea in the fourth quarter valued at $3,913,000.
Fortrea Stock Performance
FTRE stock opened at $36.51 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. Fortrea Holdings Inc. has a 12 month low of $24.92 and a 12 month high of $41.02. The firm has a 50-day moving average price of $37.51 and a 200-day moving average price of $33.24.
Analysts Set New Price Targets
FTRE has been the subject of a number of recent research reports. Barclays reduced their target price on shares of 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 started coverage on shares of Fortrea in a research report on Friday, March 22nd. They set a “neutral” rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortrea in a research report on Wednesday, March 6th. They set a “hold” rating and a $36.00 price objective for the company. Jefferies Financial Group started coverage on shares of Fortrea in a research report on Thursday, January 4th. They set a “buy” rating and a $44.00 price objective for the company. Finally, William Blair started coverage on shares of Fortrea in a research report 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 issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $37.29.
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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