Key Financial Inc bought a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,153 shares of the company’s stock, valued at approximately $75,000.
Several other institutional investors have also recently made changes to their positions in FTRE. Banyan Capital Management Inc. purchased a new position in shares of Fortrea during the fourth quarter worth $816,000. Daymark Wealth Partners LLC acquired a new stake in Fortrea during the fourth quarter valued at $254,000. Nordea Investment Management AB acquired a new stake in Fortrea during the fourth quarter valued at $747,000. Raymond James Trust N.A. acquired a new stake in Fortrea during the fourth quarter valued at $363,000. Finally, FORVIS Wealth Advisors LLC acquired a new stake in Fortrea during the fourth quarter valued at $244,000.
Fortrea Price Performance
Fortrea stock opened at $36.75 on Thursday. The company’s 50 day simple moving average is $37.51 and its 200-day simple moving average is $33.24. Fortrea Holdings Inc. has a 1 year low of $24.92 and a 1 year high of $41.02. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.62 and a quick ratio of 1.62.
Analyst Upgrades and Downgrades
FTRE has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Fortrea in a research report on Thursday, January 4th. They issued a “buy” rating and a $44.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortrea in a research report on Wednesday, March 6th. They issued a “hold” rating and a $36.00 target price on the stock. Robert W. Baird initiated coverage on shares of Fortrea in a research report on Friday, March 22nd. They issued a “neutral” rating and a $43.00 target price on the stock. Barclays dropped their target price on shares of Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Finally, William Blair began coverage on shares of Fortrea in a research note on Friday, January 5th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Fortrea presently has an average rating of “Hold” and a consensus price target of $37.29.
View Our Latest Report on FTRE
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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