Captrust Financial Advisors lessened its position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE – Free Report) by 45.6% in the third quarter, Holdings Channel.com reports. The firm owned 13,135 shares of the company’s stock after selling 11,026 shares during the period. Captrust Financial Advisors’ holdings in Fortrea were worth $263,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. grew its stake in shares of Fortrea by 5,021,169.7% during the third quarter. Pacer Advisors Inc. now owns 6,125,949 shares of the company’s stock worth $122,519,000 after buying an additional 6,125,827 shares during the last quarter. Baupost Group LLC MA increased its stake in Fortrea by 933.7% in the second quarter. Baupost Group LLC MA now owns 3,140,360 shares of the company’s stock valued at $73,296,000 after purchasing an additional 2,836,563 shares in the last quarter. FMR LLC raised its stake in Fortrea by 91.6% during the 3rd quarter. FMR LLC now owns 4,821,404 shares of the company’s stock worth $96,428,000 after buying an additional 2,304,677 shares during the period. Magnetar Financial LLC lifted its holdings in shares of Fortrea by 228.6% in the 2nd quarter. Magnetar Financial LLC now owns 1,985,854 shares of the company’s stock worth $46,350,000 after purchasing an additional 1,381,489 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. acquired a new stake in shares of Fortrea in the 2nd quarter worth about $23,192,000.
Fortrea Stock Performance
NASDAQ:FTRE opened at $20.00 on Friday. The firm has a market capitalization of $1.79 billion, a PE ratio of -5.85, a P/E/G ratio of 2.94 and a beta of 1.16. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a 50-day simple moving average of $19.65 and a two-hundred day simple moving average of $22.18. Fortrea Holdings Inc. has a 52-week low of $16.53 and a 52-week high of $41.02.
Fortrea (NASDAQ:FTRE – Get Free Report) last released its quarterly earnings results on Friday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The business had revenue of $674.90 million for the quarter, compared to analysts’ expectations of $674.86 million. Fortrea had a negative net margin of 10.99% and a positive return on equity of 2.00%. Fortrea’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 EPS. Analysts forecast that Fortrea Holdings Inc. will post 0.57 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on FTRE. Robert W. Baird cut shares of Fortrea from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $28.00 to $25.00 in a report on Friday, December 6th. Evercore ISI decreased their price objective on shares of Fortrea from $22.00 to $20.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 8th. TD Cowen increased their target price on Fortrea from $23.00 to $25.00 and gave the company a “hold” rating in a report on Monday, November 11th. Barclays raised their price target on shares of Fortrea from $20.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Baird R W cut Fortrea from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat.com, Fortrea currently has a consensus rating of “Hold” and a consensus target price of $23.30.
Read Our Latest Stock Analysis on Fortrea
Fortrea Profile
(Free Report)
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.
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