Natixis Advisors LLC Increases Stock Holdings in Fortrea Holdings Inc. (NASDAQ:FTRE)

Natixis Advisors LLC raised its position in Fortrea Holdings Inc. (NASDAQ:FTRE) by 73.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 183,501 shares of the company’s stock after acquiring an additional 78,010 shares during the period. Natixis Advisors LLC owned approximately 0.20% of Fortrea worth $3,670,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of Fortrea by 12.5% during the 2nd quarter. CWM LLC now owns 4,273 shares of the company’s stock valued at $100,000 after acquiring an additional 475 shares during the period. ProShare Advisors LLC grew its position in shares of Fortrea by 6.9% in the first quarter. ProShare Advisors LLC now owns 8,165 shares of the company’s stock valued at $328,000 after purchasing an additional 524 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Fortrea by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,241 shares of the company’s stock valued at $64,000 after buying an additional 572 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Fortrea by 2.5% during the second quarter. Arizona State Retirement System now owns 23,769 shares of the company’s stock worth $555,000 after buying an additional 585 shares in the last quarter. Finally, Cardinal Capital Management grew its stake in Fortrea by 2.7% in the 2nd quarter. Cardinal Capital Management now owns 31,548 shares of the company’s stock worth $736,000 after acquiring an additional 827 shares during the period.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FTRE shares. William Blair reissued a “market perform” rating on shares of Fortrea in a research report on Friday, November 8th. The Goldman Sachs Group reduced their target price on shares of Fortrea from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their price target on Fortrea from $28.00 to $23.00 and set a “hold” rating for the company in a report on Tuesday, August 20th. Citigroup reduced their price target on Fortrea from $42.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, Barclays increased their price objective on shares of Fortrea from $20.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.50.

Fortrea Price Performance

FTRE stock opened at $19.73 on Friday. The firm has a 50-day moving average of $19.53 and a two-hundred day moving average of $22.92. The firm has a market capitalization of $1.77 billion, a PE ratio of -5.77, a P/E/G ratio of 2.94 and a beta of 0.70. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.74. Fortrea Holdings Inc. has a one year low of $16.53 and a one year high of $41.02.

Fortrea (NASDAQ:FTRE) last posted its 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 during the quarter, compared to analyst estimates 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 was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. On average, analysts forecast that Fortrea Holdings Inc. will post 0.57 earnings per share for the current 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.