15,801 Shares in Fortrea Holdings Inc. (NASDAQ:FTRE) Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC acquired a new position in Fortrea Holdings Inc. (NASDAQ:FTRE) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,801 shares of the company’s stock, valued at approximately $119,000.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Fortrea by 736.6% in the first quarter. GAMMA Investing LLC now owns 7,847 shares of the company’s stock worth $59,000 after acquiring an additional 6,909 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Fortrea in the fourth quarter worth $300,000. Alliancebernstein L.P. grew its holdings in shares of Fortrea by 107.3% in the fourth quarter. Alliancebernstein L.P. now owns 111,845 shares of the company’s stock worth $2,086,000 after acquiring an additional 57,879 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Fortrea in the fourth quarter worth $1,082,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Fortrea by 54.8% in the fourth quarter. Ameriprise Financial Inc. now owns 501,667 shares of the company’s stock worth $9,356,000 after acquiring an additional 177,608 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently commented on FTRE shares. Cowen reaffirmed a “hold” rating on shares of Fortrea in a report on Wednesday, May 14th. Evercore ISI cut their price target on Fortrea from $6.00 to $5.00 and set an “in-line” rating for the company in a report on Wednesday. Mizuho reduced their price target on Fortrea from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, May 14th. Barclays reduced their price target on Fortrea from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Tuesday, May 13th. Finally, Citigroup restated a “neutral” rating on shares of Fortrea in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.09.

Fortrea Stock Performance

NASDAQ:FTRE opened at $5.27 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. Fortrea Holdings Inc. has a 12-month low of $3.97 and a 12-month high of $28.41. The stock has a 50-day moving average price of $5.07 and a 200 day moving average price of $9.87. The stock has a market capitalization of $476.94 million, a P/E ratio of -0.60, a P/E/G ratio of 0.34 and a beta of 1.76.

Fortrea (NASDAQ:FTRE) last released its earnings results on Monday, May 12th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.09. Fortrea had a positive return on equity of 2.84% and a negative net margin of 29.43%. The firm had revenue of $651.30 million during the quarter, compared to analysts’ expectations of $609.63 million. Equities research analysts forecast that Fortrea Holdings Inc. will post 0.51 EPS 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.