Hazlett Burt & Watson Inc. Takes Position in Fortrea Holdings Inc. (NASDAQ:FTRE)

Hazlett Burt & Watson Inc. acquired a new stake in Fortrea Holdings Inc. (NASDAQ:FTRE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,234 shares of the company’s stock, valued at approximately $79,000.

Several other large investors have also modified their holdings of FTRE. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Fortrea in the fourth quarter valued at approximately $25,000. Whittier Trust Co. purchased a new stake in shares of Fortrea during the fourth quarter worth approximately $25,000. ZRC Wealth Management LLC purchased a new stake in shares of Fortrea during the fourth quarter worth approximately $27,000. Allworth Financial LP purchased a new stake in shares of Fortrea during the fourth quarter worth approximately $28,000. Finally, Clean Yield Group purchased a new stake in shares of Fortrea during the fourth quarter worth approximately $30,000.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FTRE. Citigroup upgraded Fortrea from a “neutral” rating to a “buy” rating and upped their price target for the stock from $34.00 to $40.00 in a research note on Monday, December 11th. Barclays cut their price objective on Fortrea from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. William Blair started coverage on Fortrea in a research report on Friday, January 5th. They issued a “market perform” rating for the company. 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 objective for the company. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $37.29.

Fortrea Stock Up 0.9 %

Shares of NASDAQ:FTRE opened at $39.38 on Tuesday. The stock’s 50-day moving average price is $36.48 and its two-hundred day moving average price is $32.79. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.62 and a quick ratio of 1.62. Fortrea Holdings Inc. has a 12-month low of $24.92 and a 12-month high of $41.02.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings results on Monday, March 11th. The company reported $0.19 earnings per share (EPS) 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 analysts’ expectations 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 analysts expect that Fortrea Holdings Inc. will post 1.06 EPS for the current fiscal year.

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.