Fortrea Holdings Inc. (NASDAQ:FTRE) Shares Sold by CenterBook Partners LP

CenterBook Partners LP decreased its position in Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) by 83.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,812 shares of the company's stock after selling 388,202 shares during the period. CenterBook Partners LP owned approximately 0.08% of Fortrea worth $1,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in Fortrea by 21.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,413 shares of the company's stock valued at $7,288,000 after purchasing an additional 63,766 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Fortrea during the 4th quarter worth approximately $300,000. State Street Corp lifted its position in shares of Fortrea by 7.7% during the 3rd quarter. State Street Corp now owns 3,250,693 shares of the company's stock worth $65,014,000 after purchasing an additional 233,577 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Fortrea in the 4th quarter valued at $1,082,000. Finally, Easterly Investment Partners LLC acquired a new position in shares of Fortrea in the 4th quarter valued at $1,902,000.

Analyst Ratings Changes

FTRE has been the topic of several research reports. Robert W. Baird set a $12.00 price target on shares of Fortrea in a research report on Tuesday, March 4th. William Blair reaffirmed a "market perform" rating on shares of Fortrea in a research report on Tuesday, March 4th. Mizuho decreased their target price on Fortrea from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. The Goldman Sachs Group reduced their price target on shares of Fortrea from $22.00 to $11.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Finally, Evercore ISI dropped their price target on shares of Fortrea from $20.00 to $15.00 and set an "in-line" rating on the stock in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $16.70.

Fortrea Stock Up 5.8 %

Shares of FTRE stock traded up $0.28 on Wednesday, hitting $5.14. The stock had a trading volume of 891,022 shares, compared to its average volume of 1,591,041. Fortrea Holdings Inc. has a 12-month low of $4.71 and a 12-month high of $38.04. The business has a 50 day moving average of $10.35 and a 200 day moving average of $16.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market cap of $463.63 million, a price-to-earnings ratio of -1.50, a price-to-earnings-growth ratio of 1.78 and a beta of 2.10.

Fortrea (NASDAQ:FTRE - Get Free Report) last posted its quarterly earnings results on Monday, March 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.18). Fortrea had a negative net margin of 10.99% and a positive return on equity of 2.00%. The business had revenue of $697.00 million for the quarter, compared to analysts' expectations of $703.22 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. As a group, analysts expect that Fortrea Holdings Inc. will post 0.51 EPS for the current year.

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.