Clifford Swan Investment Counsel LLC Takes $861,000 Position in Fortrea Holdings Inc. (NASDAQ:FTRE)

Clifford Swan Investment Counsel LLC acquired 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 filing with the Securities and Exchange Commission (SEC). The fund acquired 24,681 shares of the company's stock, valued at approximately $861,000.

A number of other hedge funds have also bought and sold shares of FTRE. Penn Davis Mcfarland Inc. bought a new position in Fortrea during the fourth quarter valued at $18,810,000. New York State Common Retirement Fund purchased a new stake in shares of Fortrea during the fourth quarter valued at $17,918,000. Victory Capital Management Inc. purchased a new stake in shares of Fortrea during the fourth quarter valued at $16,645,000. Truist Financial Corp purchased a new stake in shares of Fortrea during the fourth quarter valued at $16,402,000. Finally, Natixis Advisors L.P. purchased a new stake in shares of Fortrea during the fourth quarter valued at $10,711,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Robert W. Baird assumed coverage on shares of Fortrea in a research note on Friday, March 22nd. They set a "neutral" rating and a $43.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortrea in a research note on Wednesday, March 6th. They set a "hold" rating and a $36.00 target price for the company. Finally, Barclays lowered their target price on shares of Fortrea from $38.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, January 25th. One research 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 MarketBeat, Fortrea presently has an average rating of "Hold" and a consensus target price of $37.29.

Fortrea Stock Down 2.9 %

NASDAQ:FTRE traded down $1.07 during mid-day trading on Monday, reaching $36.34. The company's stock had a trading volume of 1,342,195 shares, compared to its average volume of 875,328. Fortrea Holdings Inc. has a 1 year low of $24.92 and a 1 year high of $41.02. The stock has a fifty day moving average of $38.01 and a 200-day moving average of $34.01. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.90.

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 the consensus estimate of $0.23 by ($0.04). The business had revenue of $775.40 million for the quarter, compared to analyst estimates of $779.09 million. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. Sell-side analysts predict that Fortrea Holdings Inc. will post 1.06 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.