344,965 Shares in Fortrea Holdings Inc. (NASDAQ:FTRE) Acquired by GW&K Investment Management LLC

GW&K Investment Management LLC purchased a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 344,965 shares of the company’s stock, valued at approximately $12,039,000. GW&K Investment Management LLC owned about 0.39% of Fortrea as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Fortrea in the fourth quarter worth $25,000. Whittier Trust Co. acquired a new stake in shares of Fortrea in the fourth quarter worth $25,000. ZRC Wealth Management LLC acquired a new stake in shares of Fortrea in the fourth quarter worth $27,000. Allworth Financial LP acquired a new stake in shares of Fortrea in the fourth quarter worth $28,000. Finally, Clean Yield Group acquired a new stake in shares of Fortrea in the fourth quarter worth $30,000.

Analysts Set New Price Targets

FTRE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortrea in a research note on Wednesday, March 6th. They issued a “hold” rating and a $36.00 target price for the company. Barclays decreased their target price on shares of Fortrea from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Robert W. Baird upgraded shares of Fortrea from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $45.00 to $36.00 in a research note on Tuesday, May 14th. Bank of America decreased their target price on shares of Fortrea from $33.00 to $27.00 and set an “underperform” rating for the company in a research note on Tuesday, May 14th. Finally, Baird R W upgraded shares of Fortrea from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.57.

Fortrea Stock Up 0.3 %

NASDAQ FTRE opened at $26.38 on Thursday. Fortrea Holdings Inc. has a 12 month low of $24.92 and a 12 month high of $41.02. The company has a current ratio of 1.47, a quick ratio of 1.62 and a debt-to-equity ratio of 0.97. The company’s fifty day moving average price is $36.31 and its two-hundred day moving average price is $34.13.

Fortrea (NASDAQ:FTRE) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.04) EPS for the quarter. Fortrea had a negative net margin of 4.11% and a positive return on equity of 4.76%. The company had revenue of $662.10 million for the quarter, compared to the consensus estimate of $754.58 million. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities analysts anticipate that Fortrea Holdings Inc. will post 0.86 earnings per share for the current fiscal year.

Fortrea Company 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.