Nisa Investment Advisors LLC Acquires Shares of 29,321 Fortrea Holdings Inc. (NASDAQ:FTRE)

Nisa Investment Advisors LLC purchased a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 29,321 shares of the company's stock, valued at approximately $1,023,000.

Other hedge funds have also added to or reduced their stakes in the company. Penn Davis Mcfarland Inc. acquired a new stake in shares of Fortrea during the fourth quarter worth $18,810,000. Willis Investment Counsel bought a new stake in shares of Fortrea during the 4th quarter valued at $6,286,000. Raymond James & Associates acquired a new stake in shares of Fortrea during the 4th quarter worth $4,751,000. New York State Teachers Retirement System bought a new position in shares of Fortrea in the fourth quarter worth $3,913,000. Finally, State of Alaska Department of Revenue acquired a new position in Fortrea in the fourth quarter valued at about $1,926,000.

Fortrea Trading Down 3.2 %

NASDAQ FTRE traded down $1.23 during trading on Tuesday, hitting $36.81. 868,061 shares of the company's stock traded hands, compared to its average volume of 881,943. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.62 and a quick ratio of 1.62. The business has a 50 day moving average of $37.30 and a 200-day moving average of $33.16. Fortrea Holdings Inc. has a 12-month low of $24.92 and a 12-month high of $41.02.

Fortrea (NASDAQ:FTRE - Get Free Report) last released its quarterly earnings results on Monday, March 11th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.04). The firm had revenue of $775.40 million for the quarter, compared to analysts' expectations 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 year.

Analysts Set New Price Targets

FTRE has been the subject of a number of research reports. Barclays dropped their target price on shares of Fortrea from $38.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, January 25th. William Blair started coverage on shares of Fortrea in a research note on Friday, January 5th. They issued a "market perform" rating on the stock. Jefferies Financial Group began coverage on Fortrea in a report on Thursday, January 4th. They set a "buy" rating and a $44.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortrea in a research report on Wednesday, March 6th. They set a "hold" rating and a $36.00 target price for the company. Finally, Robert W. Baird began coverage on shares of Fortrea in a research report on Friday, March 22nd. They set a "neutral" rating and a $43.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Fortrea currently has a consensus rating of "Hold" and an average target price of $37.29.

Fortrea Company 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.