Duncker Streett & Co. Inc. Invests $51,000 in Fortrea Holdings Inc. (NASDAQ:FTRE)

Duncker Streett & Co. Inc. bought a new position in Fortrea Holdings Inc. (NASDAQ:FTRE) during the fourth quarter, Holdings Channel reports. The firm bought 1,473 shares of the company’s stock, valued at approximately $51,000.

A number of other hedge funds have also recently modified their holdings of the stock. Penn Davis Mcfarland Inc. purchased a new stake in shares of Fortrea in the fourth quarter worth about $18,810,000. Mutual of America Capital Management LLC purchased a new position in Fortrea during the fourth quarter worth approximately $9,739,000. Willis Investment Counsel purchased a new position in Fortrea during the fourth quarter worth approximately $6,286,000. Raymond James & Associates purchased a new position in Fortrea during the fourth quarter worth approximately $4,751,000. Finally, New York State Teachers Retirement System acquired a new position in shares of Fortrea during the fourth quarter valued at approximately $3,913,000.

Analyst Upgrades and Downgrades

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

Fortrea Price Performance

NASDAQ:FTRE opened at $36.51 on Thursday. The stock has a fifty day moving average price of $37.51 and a 200 day moving average price of $33.24. 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 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.90.

Fortrea (NASDAQ:FTRE) last released 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 company had revenue of $775.40 million during the quarter, compared to analysts’ expectations of $779.09 million. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts expect that Fortrea Holdings Inc. will post 1.06 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.