Cwm LLC Acquires Shares of 2,352 Fortrea Holdings Inc. (NASDAQ:FTRE)

Cwm LLC bought a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) during the 4th quarter, HoldingsChannel reports. The fund bought 2,352 shares of the company’s stock, valued at approximately $82,000.

Several other institutional investors and hedge funds have also made changes to their positions in FTRE. Banyan Capital Management Inc. purchased a new position in Fortrea during the fourth quarter worth approximately $816,000. Daymark Wealth Partners LLC acquired a new stake in shares of Fortrea in the 4th quarter worth $254,000. Nordea Investment Management AB purchased a new position in shares of Fortrea during the 4th quarter worth $747,000. Raymond James Trust N.A. acquired a new position in shares of Fortrea during the 4th quarter valued at about $363,000. Finally, FORVIS Wealth Advisors LLC purchased a new stake in shares of Fortrea in the fourth quarter valued at about $244,000.

Analyst Ratings Changes

A number of equities analysts have commented on FTRE shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortrea in a research note on Wednesday, March 6th. They set a “hold” rating and a $36.00 target price on the stock. Barclays decreased their price objective 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 assumed coverage on Fortrea in a research note on Friday, March 22nd. They set a “neutral” rating and a $43.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.29.

Fortrea Trading Up 0.4 %

NASDAQ:FTRE opened at $36.47 on Wednesday. Fortrea Holdings Inc. has a fifty-two week low of $24.92 and a fifty-two week high of $41.02. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.90. The company has a 50 day moving average price of $37.99 and a 200 day moving average price of $34.06.

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