Nisa Investment Advisors LLC Purchases New Position in Fortrea Holdings Inc. (NASDAQ:FTRE)

Nisa Investment Advisors LLC acquired a new position in Fortrea Holdings Inc. (NASDAQ:FTRE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 29,321 shares of the company’s stock, valued at approximately $1,023,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Penn Davis Mcfarland Inc. bought a new position in shares of Fortrea in the 4th quarter worth approximately $18,810,000. Willis Investment Counsel purchased a new stake in Fortrea in the fourth quarter worth $6,286,000. Raymond James & Associates bought a new position in Fortrea in the fourth quarter worth $4,751,000. New York State Teachers Retirement System purchased a new position in Fortrea during the fourth quarter valued at $3,913,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Fortrea during the 4th quarter valued at $1,926,000.

Fortrea Price Performance

Shares of NASDAQ FTRE opened at $38.04 on Tuesday. Fortrea Holdings Inc. has a twelve month low of $24.92 and a twelve month 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 company has a 50 day moving average of $37.30 and a 200 day moving average of $33.16.

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 business had revenue of $775.40 million during the quarter, compared to analyst estimates of $779.09 million. Fortrea’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts predict that Fortrea Holdings Inc. will post 1.06 EPS for the current fiscal year.

Analysts Set New Price Targets

FTRE has been the subject of several research reports. Barclays decreased their price target on shares of Fortrea from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. William Blair started coverage on shares of Fortrea in a report on Friday, January 5th. They set a “market perform” rating for the company. Jefferies Financial Group assumed coverage on Fortrea in a research report on Thursday, January 4th. They issued a “buy” rating and a $44.00 price target on the stock. Robert W. Baird started 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. Finally, Deutsche Bank Aktiengesellschaft initiated 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 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. Based on data from MarketBeat, Fortrea has a consensus rating of “Hold” and an average target price 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.