2 weeks Ago By ABMN Staff
Brandes Investment Partners LP lifted its position in Fortrea Holdings Inc. ( NASDAQ:FTRE – Free Report ) by 27.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission.
The fund owned 2,438,159 shares of the company’s stock after purchasing an additional 519,344 shares during the quarter. Brandes Investment Partners LP’s holdings in Fortrea were worth $56,845,000 as of its most recent SEC filing. A number of other large investors have also recently bought and sold shares of the company.
Keeley Teton Advisors LLC boosted its stake in shares of Fortrea by 2.7% in the first quarter. Keeley Teton Advisors LLC now owns 14,255 shares of the company’s stock worth $572,000 after buying an additional 370 shares during the last quarter.
Financial Counselors Inc. boosted its position in Fortrea by 0.4% in the 1st quarter.
Financial Counselors Inc. now owns 94,880 shares of the company’s stock worth $3,808,000 after purchasing an additional 395 shares in the last quarter. CWM LLC grew its stake in shares of Fortrea by 12.
5% during the 2nd quarter. CWM LLC now owns 4,273 shares of the company’s stock worth $100,000 after purchasing an additional 475 shares during the period. Concord Wealth Partners increased its holdings in shares of Fortrea by 152.
8% during the 1st quarter. Concord Wealth Partners now owns 862 shares of the company’s stock valued at $35,000 after purchasing an additional 521 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Fortrea by 6.
9% in the 1st quarter. ProShare Advisors LLC now owns 8,165 shares of the company’s stock valued at $328,000 after purchasing an additional 524 shares during the period. Wall Street Analysts Forecast Growth A number of research analysts have weighed in on the stock.
Evercore ISI cut shares of Fortrea from an “outperform” rating to an “in-line” rating and cut their price objective for the company from $31.00 to $27.00 in a report on Thursday, August 8th.
Deutsche Bank Aktiengesellschaft reduced their target price on Fortrea from $28.00 to $23.00 and set a “hold” rating for the company in a research note on Tuesday, August 20th.
Bank of America reduced their price objective on shares of Fortrea from $26.00 to $21.00 and set an “underperform” rating for the company in a research report on Tuesday, August 13th.
Barclays cut their target price on shares of Fortrea from $30.00 to $21.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 13th.
Finally, Citigroup decreased their price target on shares of Fortrea from $42.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th.
One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $24.90.
Fortrea Stock Up 0.2 % Shares of NASDAQ:FTRE opened at $19.84 on Monday.
Fortrea Holdings Inc. has a 52-week low of $18.07 and a 52-week high of $41.
02. The company has a quick ratio of 1.19, a current ratio of 1.
19 and a debt-to-equity ratio of 0.77. The business has a fifty day moving average of $23.
15 and a two-hundred day moving average of $28.23. The stock has a market cap of $1.
77 billion, a P/E ratio of -14.27, a PEG ratio of 2.21 and a beta of 0.
56. Fortrea ( NASDAQ:FTRE – Get Free Report ) last posted its earnings results on Monday, August 12th. The company reported ($0.
03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10).
The firm had revenue of $662.40 million during the quarter, compared to analyst estimates of $689.08 million.
Fortrea had a negative net margin of 10.09% and a positive return on equity of 1.98%.
The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.
52 earnings per share. On average, research analysts expect that Fortrea Holdings Inc. will post 0.
6 earnings per share for the current year. Fortrea Profile ( Free Report ) 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. Featured Articles Want to see what other hedge funds are holding FTRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortrea Holdings Inc.
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