Raymond James Financial Services Advisors Inc. Purchases Shares of 15,485 Fortrea Holdings Inc. (NASDAQ:FTRE)

Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) during the fourth quarter, Holdings Channel.com reports. The firm purchased 15,485 shares of the company’s stock, valued at approximately $540,000.

A number of other hedge funds have also bought and sold shares of the stock. Willis Investment Counsel purchased a new stake in Fortrea during the fourth quarter worth $6,286,000. Raymond James & Associates purchased a new stake in Fortrea during the fourth quarter worth $4,751,000. Cohen Klingenstein LLC purchased a new stake in Fortrea during the fourth quarter worth $948,000. Banyan Capital Management Inc. purchased a new stake in Fortrea during the fourth quarter worth $816,000. Finally, Nordea Investment Management AB purchased a new position in Fortrea during the fourth quarter valued at $747,000.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports 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. 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 price objective on the stock. Barclays decreased their price objective on shares of Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Jefferies Financial Group assumed coverage on shares of Fortrea in a report on Thursday, January 4th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Fortrea in a report on Wednesday, March 6th. They set a “hold” rating and a $36.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $37.29.

Fortrea Price Performance

Shares of NASDAQ FTRE opened at $36.00 on Friday. The firm has a 50-day simple moving average of $37.60 and a 200-day simple moving average of $33.26. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.90. Fortrea Holdings Inc. has a 52 week low of $24.92 and a 52 week high of $41.02.

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