2 weeks Ago By ABMN Staff
Public Employees Retirement Association of Colorado lowered its holdings in shares of Fortrea Holdings Inc. ( NASDAQ:FTRE – Free Report ) by 13.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC).
The institutional investor owned 9,775 shares of the company’s stock after selling 1,491 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Fortrea were worth $228,000 at the end of the most recent reporting period. A number of other hedge funds and other institutional investors have also bought and sold shares of FTRE.
Vanguard Group Inc. bought a new stake in shares of Fortrea in the 4th quarter worth approximately $347,110,000. Gates Capital Management Inc.
purchased a new position in Fortrea during the fourth quarter valued at $67,859,000. Diamond Hill Capital Management Inc. bought a new stake in Fortrea in the second quarter worth $23,192,000.
Nordea Investment Management AB grew its stake in shares of Fortrea by 4,500.5% in the first quarter. Nordea Investment Management AB now owns 982,215 shares of the company’s stock worth $39,259,000 after acquiring an additional 960,865 shares during the last quarter.
Finally, Victory Capital Management Inc. increased its holdings in shares of Fortrea by 59.3% during the second quarter.
Victory Capital Management Inc. now owns 2,466,181 shares of the company’s stock valued at $57,561,000 after acquiring an additional 918,240 shares in the last quarter. Analyst Upgrades and Downgrades Several brokerages recently commented on FTRE.
Jefferies Financial Group downgraded shares of Fortrea from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $21.00 in a research report on Wednesday.
The Goldman Sachs Group assumed coverage on shares of Fortrea in a research report on Thursday, June 6th. They set a “neutral” rating and a $28.00 price target for the company.
TD Cowen lowered their price objective on Fortrea from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th.
Citigroup reduced their target price on Fortrea from $42.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, August 13th.
Finally, Evercore ISI cut Fortrea from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $31.00 to $27.00 in a research note on Thursday, August 8th.
One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.
90. Fortrea Trading Up 0.2 % Shares of NASDAQ:FTRE opened at $19.
84 on Friday. The stock’s 50-day simple moving average is $23.15 and its two-hundred day simple moving average is $28.
31. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -14.
27, a PEG ratio of 2.21 and a beta of 0.56.
Fortrea Holdings Inc. has a 52-week low of $18.07 and a 52-week high of $41.
02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.
19 and a current ratio of 1.19. Fortrea ( NASDAQ:FTRE – Get Free Report ) last announced its earnings results on Monday, August 12th.
The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.
10). Fortrea had a negative net margin of 10.09% and a positive return on equity of 1.
98%. The business had revenue of $662.40 million for the quarter, compared to the consensus estimate of $689.
08 million. During the same quarter last year, the firm posted $0.52 earnings per share.
The business’s quarterly revenue was down 8.6% compared to the same quarter last year. Analysts expect that Fortrea Holdings Inc.
will post 0.6 EPS for the current year. Fortrea Company 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 Receive News & Ratings for Fortrea Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortrea and related companies with MarketBeat.
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