FMR LLC grew its holdings in Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) by 67.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,086,806 shares of the company's stock after purchasing an additional 3,265,402 shares during the period. FMR LLC owned approximately 9.02% of Fortrea worth $150,819,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC grew its position in Fortrea by 2.0% during the third quarter. Janus Henderson Group PLC now owns 41,292 shares of the company's stock valued at $825,000 after purchasing an additional 792 shares in the last quarter. Willis Investment Counsel boosted its stake in shares of Fortrea by 0.6% during the 4th quarter. Willis Investment Counsel now owns 185,473 shares of the company's stock valued at $3,459,000 after buying an additional 1,138 shares during the period. Cullen Frost Bankers Inc. grew its holdings in shares of Fortrea by 31.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 5,633 shares of the company's stock valued at $105,000 after acquiring an additional 1,361 shares in the last quarter. Swiss National Bank increased its stake in shares of Fortrea by 1.0% in the fourth quarter. Swiss National Bank now owns 167,420 shares of the company's stock worth $3,122,000 after acquiring an additional 1,600 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Fortrea by 5.0% during the fourth quarter. KBC Group NV now owns 35,031 shares of the company's stock worth $654,000 after acquiring an additional 1,659 shares in the last quarter.
Fortrea Stock Performance
Shares of FTRE traded up $0.27 during mid-day trading on Friday, hitting $5.29. The company's stock had a trading volume of 2,177,985 shares, compared to its average volume of 1,607,315. The stock's 50-day moving average is $9.96 and its two-hundred day moving average is $15.82. The firm has a market capitalization of $477.16 million, a PE ratio of -1.55, a price-to-earnings-growth ratio of 1.78 and a beta of 2.10. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.18. Fortrea Holdings Inc. has a one year low of $4.77 and a one year high of $38.04.
Fortrea (NASDAQ:FTRE - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $697.00 million during the quarter, compared to the consensus estimate of $703.22 million. During the same period last year, the company earned $0.19 earnings per share. As a group, sell-side analysts anticipate that Fortrea Holdings Inc. will post 0.51 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages have commented on FTRE. Barclays restated an "underweight" rating and issued a $6.00 target price (down previously from $12.00) on shares of Fortrea in a research note on Thursday, April 10th. Evercore ISI dropped their price objective on Fortrea from $20.00 to $15.00 and set an "in-line" rating on the stock in a report on Tuesday, March 4th. William Blair reiterated a "market perform" rating on shares of Fortrea in a research note on Tuesday, March 4th. The Goldman Sachs Group dropped their price target on shares of Fortrea from $22.00 to $11.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Finally, Robert W. Baird set a $12.00 price objective on shares of Fortrea in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $16.70.
View Our Latest Stock Analysis on FTRE
Fortrea Profile
(
Free Report)
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.
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