Key Financial Inc Invests $75,000 in Fortrea Holdings Inc. (NASDAQ:FTRE)

Key Financial Inc purchased a new stake in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,153 shares of the company’s stock, valued at approximately $75,000.

Several other institutional investors have also added to or reduced their stakes in FTRE. New York State Teachers Retirement System purchased a new stake in Fortrea in the fourth quarter worth $3,913,000. Mutual of America Capital Management LLC purchased a new stake in Fortrea in the fourth quarter worth about $9,739,000. Willis Investment Counsel purchased a new stake in Fortrea in the fourth quarter worth about $6,286,000. Nisa Investment Advisors LLC purchased a new stake in Fortrea in the fourth quarter worth about $1,023,000. Finally, Cohen Klingenstein LLC purchased a new position in shares of Fortrea during the fourth quarter valued at approximately $948,000.

Fortrea Stock Performance

Shares of FTRE stock opened at $36.75 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.62 and a quick ratio of 1.62. Fortrea Holdings Inc. has a 1 year low of $24.92 and a 1 year high of $41.02. The firm has a fifty day moving average price of $37.51 and a 200-day moving average price of $33.24.

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 the consensus estimate of $779.09 million. The business’s revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Fortrea Holdings Inc. will post 1.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FTRE shares. Barclays decreased their price objective 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. Jefferies Financial Group initiated coverage on shares of Fortrea in a research report on Thursday, January 4th. They issued a “buy” rating and a $44.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortrea in a research report on Wednesday, March 6th. They issued a “hold” rating and a $36.00 target price for the company. William Blair initiated coverage on shares of Fortrea in a research report on Friday, January 5th. They set a “market perform” rating for the company. Finally, Robert W. Baird initiated 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. 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.