Illinois Municipal Retirement Fund Purchases Shares of 49,801 Fortrea Holdings Inc. (NASDAQ:FTRE)

Illinois Municipal Retirement Fund purchased a new stake in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 49,801 shares of the company’s stock, valued at approximately $1,738,000.

Other hedge funds have also bought and sold shares of the company. New York State Teachers Retirement System bought a new stake in Fortrea during the fourth quarter valued at about $3,913,000. Mutual of America Capital Management LLC bought a new stake in Fortrea during the fourth quarter valued at about $9,739,000. Willis Investment Counsel bought a new stake in Fortrea during the fourth quarter valued at about $6,286,000. Nisa Investment Advisors LLC bought a new stake in Fortrea during the fourth quarter valued at about $1,023,000. Finally, Cohen Klingenstein LLC purchased a new position in shares of Fortrea in the fourth quarter valued at about $948,000.

Fortrea Price Performance

NASDAQ:FTRE opened at $36.35 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.90. Fortrea Holdings Inc. has a 12 month low of $24.92 and a 12 month high of $41.02. The business’s 50-day moving average is $37.91 and its 200 day moving average is $33.57.

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

Analyst Ratings Changes

Several brokerages have recently commented on FTRE. Deutsche Bank Aktiengesellschaft began coverage on Fortrea in a research report on Wednesday, March 6th. They issued a “hold” rating and a $36.00 price objective on the stock. Jefferies Financial Group began coverage on Fortrea in a research report on Thursday, January 4th. They issued a “buy” rating and a $44.00 price objective on the stock. Barclays lowered their price objective on Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Robert W. Baird began coverage on Fortrea in a research report on Friday, March 22nd. They issued a “neutral” rating and a $43.00 price objective on the stock. Finally, William Blair began coverage on Fortrea in a research report 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 issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.29.

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.