Parkside Financial Bank & Trust Invests $58,000 in Fortrea Holdings Inc. (NASDAQ:FTRE)

Parkside Financial Bank & Trust acquired a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,649 shares of the company’s stock, valued at approximately $58,000.

A number of other large investors also recently modified their holdings of the business. Penn Davis Mcfarland Inc. acquired a new position in shares of Fortrea during the 4th quarter worth about $18,810,000. New York State Common Retirement Fund bought a new stake in shares of Fortrea in the 4th quarter valued at about $17,918,000. Mutual of America Capital Management LLC bought a new stake in shares of Fortrea in the 4th quarter valued at about $9,739,000. Willis Investment Counsel bought a new stake in shares of Fortrea in the 4th quarter valued at about $6,286,000. Finally, California Public Employees Retirement System bought a new stake in shares of Fortrea in the 4th quarter valued at about $5,621,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FTRE. William Blair began coverage on shares of Fortrea in a report on Friday, January 5th. They issued a “market perform” rating on the stock. Jefferies Financial Group began coverage on shares of Fortrea in a report on Thursday, January 4th. They issued a “buy” rating and a $44.00 target price on the stock. Barclays dropped their target price on shares of Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortrea in a report on Wednesday, March 6th. They issued a “hold” rating and a $36.00 target price on the stock. Finally, Robert W. Baird started coverage on shares of Fortrea in a report on Friday, March 22nd. They issued a “neutral” rating and a $43.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.29.

Fortrea Price Performance

Fortrea stock opened at $36.35 on Friday. 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 twelve month low of $24.92 and a twelve month high of $41.02. The company’s 50-day moving average price is $37.91 and its two-hundred day moving average price is $33.57.

Fortrea (NASDAQ:FTRE) last announced its earnings results on Monday, March 11th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The business had revenue of $775.40 million for the quarter, compared to analysts’ expectations of $779.09 million. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities research 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.