45,735 Shares in Fortrea Holdings Inc. (NASDAQ:FTRE) Acquired by Yousif Capital Management LLC

Yousif Capital Management LLC purchased a new stake in shares of Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 45,735 shares of the company's stock, valued at approximately $1,596,000. Yousif Capital Management LLC owned approximately 0.05% of Fortrea at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Banyan Capital Management Inc. acquired a new stake in shares of Fortrea in the fourth quarter worth $816,000. Daymark Wealth Partners LLC bought a new stake in Fortrea during the fourth quarter valued at about $254,000. Nordea Investment Management AB acquired a new stake in shares of Fortrea in the fourth quarter valued at about $747,000. Raymond James Trust N.A. acquired a new position in shares of Fortrea during the 4th quarter worth about $363,000. Finally, FORVIS Wealth Advisors LLC bought a new stake in Fortrea during the 4th quarter valued at approximately $244,000.

Fortrea Stock Up 2.1 %

Shares of NASDAQ:FTRE traded up $0.76 on Friday, hitting $37.41. The stock had a trading volume of 560,473 shares, compared to its average volume of 869,900. Fortrea Holdings Inc. has a twelve month low of $24.92 and a twelve month high of $41.02. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.90. The firm's 50 day moving average price is $37.99 and its 200-day moving average price is $33.85.

Fortrea (NASDAQ:FTRE - Get Free Report) last issued its earnings results on Monday, March 11th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). The firm had revenue of $775.40 million for the quarter, compared to the consensus estimate of $779.09 million. The business's quarterly revenue was up 1.8% on a year-over-year basis. Research analysts forecast that Fortrea Holdings Inc. will post 1.06 EPS for the current year.

Wall Street Analyst Weigh In

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

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.