Cwm LLC lowered its stake in shares of Fortrea Holdings Inc. (NASDAQ:FTRE – Free Report) by 31.3% in the third quarter, Holdings Channel reports. The firm owned 2,934 shares of the company’s stock after selling 1,339 shares during the period. Cwm LLC’s holdings in Fortrea were worth $59,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Keeley Teton Advisors LLC grew its stake in Fortrea by 2.7% during the 1st quarter. Keeley Teton Advisors LLC now owns 14,255 shares of the company’s stock valued at $572,000 after acquiring an additional 370 shares in the last quarter. Financial Counselors Inc. grew its stake in Fortrea by 0.4% during the 1st quarter. Financial Counselors Inc. now owns 94,880 shares of the company’s stock valued at $3,808,000 after acquiring an additional 395 shares in the last quarter. Concord Wealth Partners grew its stake in Fortrea by 152.8% during the 1st quarter. Concord Wealth Partners now owns 862 shares of the company’s stock valued at $35,000 after acquiring an additional 521 shares in the last quarter. ProShare Advisors LLC grew its stake in Fortrea by 6.9% during the 1st quarter. ProShare Advisors LLC now owns 8,165 shares of the company’s stock valued at $328,000 after acquiring an additional 524 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in Fortrea by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 23,769 shares of the company’s stock valued at $555,000 after acquiring an additional 585 shares in the last quarter.
Fortrea Stock Down 0.2 %
Shares of NASDAQ FTRE opened at $17.33 on Monday. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -5.32, a price-to-earnings-growth ratio of 2.87 and a beta of 0.54. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.19 and a quick ratio of 1.19. The business has a 50-day moving average of $20.59 and a two-hundred day moving average of $25.33. Fortrea Holdings Inc. has a 1 year low of $17.19 and a 1 year high of $41.02.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on FTRE. The Goldman Sachs Group dropped their price objective on shares of Fortrea from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Fortrea from $28.00 to $23.00 and set a “hold” rating on the stock in a report on Tuesday, August 20th. William Blair reiterated a “market perform” rating on shares of Fortrea in a report on Wednesday, September 11th. TD Cowen decreased their target price on shares of Fortrea from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Finally, Jefferies Financial Group lowered shares of Fortrea from a “buy” rating to a “hold” rating and decreased their target price for the company from $25.00 to $21.00 in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.60.
Read Our Latest Stock Report on Fortrea
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.
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