Thrivent Financial for Lutherans Has $1.41 Million Stock Holdings in Fortrea Holdings Inc. (NASDAQ:FTRE)

Thrivent Financial for Lutherans decreased its position in Fortrea Holdings Inc. (NASDAQ:FTRE) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 70,362 shares of the company’s stock after selling 3,853 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of Fortrea worth $1,407,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FTRE. nVerses Capital LLC bought a new position in Fortrea in the second quarter valued at approximately $26,000. Hara Capital LLC bought a new stake in Fortrea in the 3rd quarter valued at $29,000. Gladius Capital Management LP acquired a new position in Fortrea in the 2nd quarter worth $30,000. Blue Trust Inc. increased its holdings in Fortrea by 2,515.8% during the 2nd quarter. Blue Trust Inc. now owns 1,491 shares of the company’s stock worth $35,000 after purchasing an additional 1,434 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. increased its holdings in Fortrea by 125.0% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 2,250 shares of the company’s stock worth $53,000 after purchasing an additional 1,250 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FTRE shares. Barclays upped their price objective on Fortrea from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Bank of America reduced their price target on Fortrea from $26.00 to $21.00 and set an “underperform” rating for the company in a research report on Tuesday, August 13th. Evercore ISI lowered their price objective on shares of Fortrea from $22.00 to $20.00 and set an “in-line” rating on the stock in a report on Tuesday, October 8th. Citigroup reduced their target price on shares of Fortrea from $42.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Fortrea from $28.00 to $23.00 and set a “hold” rating on the stock in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $24.50.

Fortrea Stock Down 2.3 %

Shares of FTRE stock opened at $21.05 on Friday. Fortrea Holdings Inc. has a 52-week low of $16.53 and a 52-week high of $41.02. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -6.15, a PEG ratio of 3.25 and a beta of 0.70. The firm’s 50-day moving average is $19.35 and its 200-day moving average is $22.57.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings data 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%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share. Sell-side analysts predict that Fortrea Holdings Inc. will post 0.57 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.