Public Sector Pension Investment Board raised its holdings in Fortrea Holdings Inc. (NASDAQ:FTRE – Free Report) by 8.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 196,737 shares of the company’s stock after buying an additional 14,717 shares during the period. Public Sector Pension Investment Board owned about 0.22% of Fortrea worth $4,592,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Keeley Teton Advisors LLC raised its stake in Fortrea by 2.7% in the 1st quarter. Keeley Teton Advisors LLC now owns 14,255 shares of the company’s stock valued at $572,000 after acquiring an additional 370 shares during the period. Financial Counselors Inc. increased its holdings in shares of Fortrea by 0.4% in the first quarter. Financial Counselors Inc. now owns 94,880 shares of the company’s stock valued at $3,808,000 after purchasing an additional 395 shares during the last quarter. CWM LLC raised its position in shares of Fortrea by 12.5% in the second quarter. CWM LLC now owns 4,273 shares of the company’s stock valued at $100,000 after purchasing an additional 475 shares during the period. Concord Wealth Partners lifted its stake in shares of Fortrea by 152.8% during the 1st quarter. Concord Wealth Partners now owns 862 shares of the company’s stock worth $35,000 after buying an additional 521 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Fortrea by 6.9% during the 1st quarter. ProShare Advisors LLC now owns 8,165 shares of the company’s stock worth $328,000 after buying an additional 524 shares during the period.
Fortrea Trading Up 1.6 %
FTRE opened at $19.80 on Friday. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -14.24, a P/E/G ratio of 2.21 and a beta of 0.56. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.77. Fortrea Holdings Inc. has a twelve month low of $18.07 and a twelve month high of $41.02. The company has a 50-day simple moving average of $23.28 and a 200 day simple moving average of $28.49.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on FTRE shares. Barclays lowered their price target on shares of Fortrea from $30.00 to $21.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft dropped their price target on Fortrea from $28.00 to $23.00 and set a “hold” rating for the company in a report on Tuesday, August 20th. Bank of America decreased their price objective on Fortrea from $26.00 to $21.00 and set an “underperform” rating on the stock in a report on Tuesday, August 13th. The Goldman Sachs Group began coverage on shares of Fortrea in a research report on Thursday, June 6th. They issued a “neutral” rating and a $28.00 target price for the company. Finally, Citigroup dropped their price objective on shares of Fortrea from $42.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Fortrea has a consensus rating of “Hold” and a consensus target price of $24.90.
View Our Latest Report on Fortrea
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.
Read More
- Five stocks we like better than Fortrea
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Rocket Lab Stock Soars: Should Investors Chase the Rally?
- The Most Important Warren Buffett Stock for Investors: His Own
- KB Home Slips After Earnings: What’s Next for Homebuilders?
- Canada Bond Market Holiday: How to Invest and Trade
- Micron Stock Soars as AI Demand Fuels Big Q4 Earnings Beat
Receive News & Ratings for Fortrea Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortrea and related companies with MarketBeat.com's FREE daily email newsletter.