International Assets Investment Management LLC Invests $121,000 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 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,455 shares of the company’s stock, valued at approximately $121,000.

Several other hedge funds also recently modified their holdings of FTRE. Whittier Trust Co. of Nevada Inc. acquired a new position in Fortrea in the 4th quarter worth about $25,000. Whittier Trust Co. bought a new stake in shares of Fortrea during the fourth quarter worth about $25,000. ZRC Wealth Management LLC acquired a new position in shares of Fortrea in the fourth quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC acquired a new position in shares of Fortrea in the fourth quarter valued at approximately $31,000. Finally, Atwood & Palmer Inc. bought a new position in Fortrea in the 4th quarter valued at approximately $35,000.

Fortrea Trading Up 3.3 %

FTRE stock opened at $37.54 on Tuesday. The company’s fifty day simple moving average is $37.96 and its 200 day simple moving average is $33.76. 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 quick ratio of 1.62 and a current ratio of 1.62.

Fortrea (NASDAQ:FTRE) last issued its earnings results 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 analyst estimates of $779.09 million. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, research analysts predict that Fortrea Holdings Inc. will post 1.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FTRE shares. Jefferies Financial Group started coverage on shares of Fortrea in a report on Thursday, January 4th. They set a “buy” rating and a $44.00 target price on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortrea in a research note on Wednesday, March 6th. They issued a “hold” rating and a $36.00 price objective on the stock. William Blair began coverage on Fortrea in a research report on Friday, January 5th. They set a “market perform” rating for the company. Barclays cut their target price on Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Finally, Robert W. Baird started coverage on Fortrea in a research note on Friday, March 22nd. They issued a “neutral” rating and a $43.00 price target for the company. One 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. According to data from MarketBeat.com, the company presently 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.