International Assets Investment Management LLC Makes New $121,000 Investment in Fortrea Holdings Inc. (NASDAQ:FTRE)

International Assets Investment Management LLC purchased a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,455 shares of the company’s stock, valued at approximately $121,000.

Several other hedge funds also recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. bought a new position in Fortrea during the fourth quarter valued at about $25,000. Whittier Trust Co. bought a new stake in shares of Fortrea during the fourth quarter valued at approximately $25,000. ZRC Wealth Management LLC acquired a new position in shares of Fortrea in the fourth quarter valued at $27,000. GPS Wealth Strategies Group LLC bought a new position in Fortrea in the fourth quarter worth $31,000. Finally, Atwood & Palmer Inc. acquired a new stake in Fortrea during the fourth quarter worth $35,000.

Wall Street Analysts Forecast Growth

FTRE has been the subject of a number of analyst reports. Robert W. Baird started coverage on shares of Fortrea in a report on Friday, March 22nd. They set a “neutral” rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on Fortrea in a report on Wednesday, March 6th. They set a “hold” rating and a $36.00 price objective on the stock. Barclays dropped their target price on Fortrea from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. William Blair initiated coverage on Fortrea in a research note on Friday, January 5th. They issued a “market perform” rating on the stock. Finally, Jefferies Financial Group initiated coverage on Fortrea in a research note on Thursday, January 4th. They set a “buy” rating and a $44.00 price objective for the company. 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 data from MarketBeat, Fortrea has a consensus rating of “Hold” and an average target price of $37.29.

Fortrea Trading Up 3.3 %

Shares of FTRE opened at $37.54 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.90. The stock has a fifty day moving average price of $37.96 and a two-hundred day moving average price of $33.76. Fortrea Holdings Inc. has a 52-week low of $24.92 and a 52-week high of $41.02.

Fortrea (NASDAQ:FTRE) last announced its 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 firm had revenue of $775.40 million for the quarter, compared to the consensus estimate 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 forecast that Fortrea Holdings Inc. will post 1.06 earnings per share for the current year.

About Fortrea

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.