Parkside Financial Bank & Trust Makes New Investment in Fortrea Holdings Inc. (NASDAQ:FTRE)

Parkside Financial Bank & Trust acquired a new position in Fortrea Holdings Inc. (NASDAQ:FTRE) during the 4th quarter, HoldingsChannel reports. The fund acquired 1,649 shares of the company’s stock, valued at approximately $58,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Marks Group Wealth Management Inc bought a new stake in Fortrea in the fourth quarter worth about $349,000. Cohen Capital Management Inc. bought a new stake in Fortrea in the fourth quarter worth about $1,873,000. Illinois Municipal Retirement Fund bought a new stake in Fortrea in the fourth quarter worth about $1,738,000. New York State Common Retirement Fund bought a new stake in shares of Fortrea in the fourth quarter valued at approximately $17,918,000. Finally, California Public Employees Retirement System bought a new stake in shares of Fortrea in the fourth quarter valued at approximately $5,621,000.

Fortrea Price Performance

Shares of NASDAQ FTRE opened at $36.35 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.62 and a current ratio of 1.62. Fortrea Holdings Inc. has a 12 month low of $24.92 and a 12 month high of $41.02. The firm has a fifty day simple moving average of $37.91 and a two-hundred day simple moving average of $33.57.

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

Analyst Upgrades and Downgrades

FTRE has been the topic of several research reports. Jefferies Financial Group initiated coverage on shares of Fortrea in a research report on Thursday, January 4th. They issued a “buy” rating and a $44.00 price target on the stock. William Blair assumed coverage on shares of Fortrea in a report on Friday, January 5th. They set a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortrea in a research note on Wednesday, March 6th. They issued a “hold” rating and a $36.00 price target for the company. Robert W. Baird initiated coverage on shares of Fortrea in a research note on Friday, March 22nd. They issued a “neutral” rating and a $43.00 price objective for the company. Finally, Barclays cut their price objective 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. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.