Eukles Asset Management Purchases New Stake in Fortrea Holdings Inc. (NASDAQ:FTRE)

Eukles Asset Management purchased a new position in Fortrea Holdings Inc. (NASDAQ:FTRE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,333 shares of the company’s stock, valued at approximately $465,000.

A number of other large investors also recently bought and sold shares of FTRE. Whittier Trust Co. bought a new stake in Fortrea during the fourth quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Fortrea in the 4th quarter worth $25,000. ZRC Wealth Management LLC acquired a new stake in shares of Fortrea in the fourth quarter valued at $27,000. Allworth Financial LP bought a new position in Fortrea during the fourth quarter valued at about $28,000. Finally, CENTRAL TRUST Co acquired a new position in Fortrea during the fourth quarter worth about $30,000.

Fortrea Price Performance

Shares of FTRE traded down $0.53 during mid-day trading on Friday, hitting $35.47. 446,110 shares of the company’s stock were exchanged, compared to its average volume of 870,546. Fortrea Holdings Inc. has a twelve month low of $24.92 and a twelve month high of $41.02. The firm has a fifty day moving average of $37.60 and a two-hundred day moving average of $33.26. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.62 and a current ratio of 1.62.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings results on Monday, March 11th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The business had revenue of $775.40 million during the quarter, compared to the consensus estimate of $779.09 million. The firm’s revenue was up 1.8% on a year-over-year basis. On average, research analysts predict that Fortrea Holdings Inc. will post 1.06 EPS for the current year.

Analyst Ratings Changes

FTRE has been the subject of several research reports. Robert W. Baird began 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. Barclays dropped their price target on Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. William Blair began coverage on Fortrea in a research report on Friday, January 5th. They set a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft started coverage on Fortrea in a report on Wednesday, March 6th. They issued a “hold” rating and a $36.00 target price on the stock. Finally, Jefferies Financial Group started coverage on Fortrea in a research report on Thursday, January 4th. They issued a “buy” rating and a $44.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $37.29.

Fortrea 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.