13,333 Shares in Fortrea Holdings Inc. (NASDAQ:FTRE) Acquired by Eukles Asset Management

Eukles Asset Management acquired a new stake in Fortrea Holdings Inc. (NASDAQ:FTRE) during the fourth quarter, HoldingsChannel reports. The fund acquired 13,333 shares of the company’s stock, valued at approximately $465,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FTRE. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Fortrea in the fourth quarter valued at about $25,000. Whittier Trust Co. bought a new position in Fortrea during the fourth quarter worth about $25,000. ZRC Wealth Management LLC acquired a new stake in Fortrea in the 4th quarter worth about $27,000. Allworth Financial LP bought a new stake in Fortrea in the 4th quarter valued at about $28,000. Finally, Clean Yield Group acquired a new position in shares of Fortrea during the 4th quarter worth approximately $30,000.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FTRE shares. Jefferies Financial Group assumed coverage on shares of Fortrea in a report on Thursday, January 4th. They set a “buy” rating and a $44.00 target price on the stock. Barclays dropped their price objective on Fortrea from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on Fortrea in a report on Wednesday, March 6th. They set a “hold” rating and a $36.00 target price on the stock. William Blair began coverage on Fortrea in a research report on Friday, January 5th. They issued a “market perform” rating on the stock. Finally, Robert W. Baird started 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 analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Fortrea has an average rating of “Hold” and a consensus price target of $37.29.

Fortrea Price Performance

Shares of FTRE traded down $0.53 during trading hours on Friday, reaching $35.47. The stock had a trading volume of 446,110 shares, compared to its average volume of 870,546. The company’s 50-day moving average is $37.60 and its two-hundred day moving average is $33.26. Fortrea Holdings Inc. has a 12 month low of $24.92 and a 12 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.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings data on Monday, March 11th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate 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 company’s revenue was up 1.8% on a year-over-year basis. As a group, analysts forecast that Fortrea Holdings Inc. will post 1.06 EPS for the current fiscal year.

About Fortrea

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.