Glassman Wealth Services Acquires New Position in Fortrea Holdings Inc. (NASDAQ:FTRE)

Glassman Wealth Services acquired a new stake in Fortrea Holdings Inc. (NASDAQ:FTRE) during the 4th quarter, Holdings Channel.com reports. The firm acquired 796 shares of the company’s stock, valued at approximately $28,000.

Several other large investors have also bought and sold shares of FTRE. Banyan Capital Management Inc. bought a new stake in Fortrea in the fourth quarter valued at approximately $816,000. Daymark Wealth Partners LLC bought a new stake in Fortrea in the fourth quarter valued at approximately $254,000. Nordea Investment Management AB bought a new stake in Fortrea in the fourth quarter valued at approximately $747,000. Raymond James Trust N.A. bought a new stake in Fortrea in the fourth quarter valued at approximately $363,000. Finally, FORVIS Wealth Advisors LLC bought a new stake in Fortrea in the fourth quarter valued at approximately $244,000.

Analysts Set New Price Targets

Several equities research analysts have commented on FTRE shares. 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. Robert W. Baird started coverage on shares of Fortrea in a research note on Friday, March 22nd. They issued a “neutral” rating and a $43.00 target price for the company. Jefferies Financial Group started coverage on shares of Fortrea in a research note on Thursday, January 4th. They issued a “buy” rating and a $44.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortrea in a research report on Wednesday, March 6th. They set a “hold” rating and a $36.00 price objective for the company. Finally, William Blair started coverage on shares of Fortrea in a research report on Friday, January 5th. They set a “market perform” rating for the company. One equities 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.29.

Fortrea Stock Down 1.3 %

Shares of FTRE stock traded down $0.49 during trading hours on Thursday, hitting $36.65. 1,018,292 shares of the company were exchanged, compared to its average volume of 873,541. Fortrea Holdings Inc. has a 52 week low of $24.92 and a 52 week high of $41.02. The business has a 50 day moving average of $38.00 and a two-hundred day moving average of $33.83. 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) last released its earnings results on Monday, March 11th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The company had revenue of $775.40 million for the quarter, compared to analyst estimates of $779.09 million. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, research analysts expect that Fortrea Holdings Inc. will post 1.06 EPS for the current year.

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.