DekaBank Deutsche Girozentrale Takes Position in Fortrea Holdings Inc. (NASDAQ:FTRE)

DekaBank Deutsche Girozentrale acquired a new position in Fortrea Holdings Inc. (NASDAQ:FTRE) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 54,090 shares of the company’s stock, valued at approximately $1,865,000. DekaBank Deutsche Girozentrale owned about 0.06% of Fortrea at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FTRE. New York State Teachers Retirement System purchased a new stake in Fortrea during the fourth quarter valued at about $3,913,000. CENTRAL TRUST Co purchased a new position in shares of Fortrea during the 4th quarter valued at about $30,000. Allworth Financial LP bought a new stake in Fortrea in the 4th quarter worth approximately $28,000. Clean Yield Group purchased a new stake in Fortrea in the fourth quarter worth approximately $30,000. Finally, International Assets Investment Management LLC bought a new position in Fortrea during the fourth quarter valued at approximately $121,000.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortrea in a research note on Wednesday, March 6th. They issued a “hold” rating and a $36.00 price objective for the company. Jefferies Financial Group started 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. Barclays dropped their price target on shares of 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 shares of Fortrea in a research report on Friday, January 5th. They issued a “market perform” rating on the stock. Finally, Robert W. Baird assumed coverage on shares of Fortrea in a report on Friday, March 22nd. They set a “neutral” rating and a $43.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Fortrea has a consensus rating of “Hold” and an average target price of $37.29.

Fortrea Stock Down 0.6 %

Shares of Fortrea stock opened at $39.05 on Friday. The company’s fifty day simple moving average is $37.15 and its two-hundred day simple moving average is $33.07. Fortrea Holdings Inc. has a 12-month low of $24.92 and a 12-month 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.

Fortrea (NASDAQ:FTRE) last released 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 company had revenue of $775.40 million for the quarter, compared to the consensus estimate of $779.09 million. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, analysts expect that Fortrea Holdings Inc. will post 1.06 EPS for the current year.

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.