Yousif Capital Management LLC Invests $1.60 Million in Fortrea Holdings Inc. (NASDAQ:FTRE)

Yousif Capital Management LLC acquired a new stake in shares of Fortrea Holdings Inc. (NASDAQ:FTREFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 45,735 shares of the company’s stock, valued at approximately $1,596,000. Yousif Capital Management LLC owned about 0.05% of Fortrea at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Penn Davis Mcfarland Inc. bought a new stake in shares of Fortrea during the 4th quarter worth about $18,810,000. New York State Common Retirement Fund bought a new stake in Fortrea during the fourth quarter worth approximately $17,918,000. Mutual of America Capital Management LLC acquired a new position in Fortrea during the fourth quarter valued at approximately $9,739,000. Willis Investment Counsel acquired a new position in Fortrea during the fourth quarter valued at approximately $6,286,000. Finally, California Public Employees Retirement System acquired a new stake in shares of Fortrea in the fourth quarter worth $5,621,000.

Fortrea Stock Down 1.3 %

Shares of NASDAQ FTRE opened at $36.65 on Friday. Fortrea Holdings Inc. has a one year low of $24.92 and a one year high of $41.02. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.62 and a current ratio of 1.62. The business has a fifty day simple moving average of $38.00 and a 200 day simple moving average of $33.83.

Fortrea (NASDAQ:FTREGet Free Report) last issued its earnings results on Monday, March 11th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). The firm had revenue of $775.40 million for the quarter, compared to analyst estimates of $779.09 million. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities research analysts expect that Fortrea Holdings Inc. will post 1.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FTRE shares. Jefferies Financial Group began coverage on shares of Fortrea in a research note on Thursday, January 4th. They issued a “buy” rating and a $44.00 target price on the stock. Robert W. Baird began coverage on Fortrea in a research report on Friday, March 22nd. They set a “neutral” rating and a $43.00 price objective for the company. William Blair initiated coverage on Fortrea in a report on Friday, January 5th. They issued a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft began coverage on Fortrea in a report on Wednesday, March 6th. They set a “hold” rating and a $36.00 price target for the company. Finally, Barclays lowered their price objective on shares of Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $37.29.

Get Our Latest Analysis on FTRE

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.

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Institutional Ownership by Quarter for Fortrea (NASDAQ:FTRE)

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