Forward Air Co. (FWRD) Position Lowered by Comerica Bank

Comerica Bank lowered its stake in Forward Air Co. (NASDAQ:FWRD) by 23.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,380 shares of the transportation company’s stock after selling 15,144 shares during the period. Comerica Bank’s holdings in Forward Air were worth $3,111,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of FWRD. Ameritas Investment Partners Inc. increased its position in shares of Forward Air by 10.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,636 shares of the transportation company’s stock worth $140,000 after purchasing an additional 246 shares during the period. Meeder Asset Management Inc. grew its position in Forward Air by 1,496.7% in the third quarter. Meeder Asset Management Inc. now owns 3,385 shares of the transportation company’s stock valued at $194,000 after acquiring an additional 3,173 shares during the last quarter. BB&T Corp bought a new position in Forward Air in the third quarter valued at about $208,000. Stevens Capital Management LP bought a new position in Forward Air in the third quarter valued at about $239,000. Finally, Crossmark Global Holdings Inc. bought a new position in Forward Air in the third quarter valued at about $306,000. Institutional investors own 94.32% of the company’s stock.

FWRD has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their target price on Forward Air from $47.00 to $52.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Cowen reiterated a “market perform” rating and issued a $54.00 target price (up previously from $51.00) on shares of Forward Air in a research report on Monday, October 30th. Zacks Investment Research cut Forward Air from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Stephens set a $74.00 target price on Forward Air and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, BidaskClub cut Forward Air from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Forward Air has an average rating of “Hold” and an average target price of $61.40.

Forward Air Co. (NASDAQ:FWRD) opened at $55.65 on Tuesday. Forward Air Co. has a 12-month low of $45.86 and a 12-month high of $64.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.71 and a quick ratio of 2.71. The stock has a market capitalization of $1,656.82, a PE ratio of 23.58 and a beta of 1.17.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, February 7th. The transportation company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $301.47 million. Forward Air had a return on equity of 13.91% and a net margin of 7.93%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 earnings per share. equities research analysts forecast that Forward Air Co. will post 3.04 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Thursday, March 8th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Wednesday, March 7th. Forward Air’s dividend payout ratio (DPR) is currently 20.76%.

In other news, CEO Bruce A. Campbell sold 500 shares of the business’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $55.45, for a total transaction of $27,725.00. Following the sale, the chief executive officer now directly owns 153,454 shares in the company, valued at $8,509,024.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chris C. Ruble sold 23,020 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $57.75, for a total value of $1,329,405.00. Following the sale, the insider now owns 28,279 shares in the company, valued at $1,633,112.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,909 shares of company stock worth $5,157,356. Company insiders own 2.40% of the company’s stock.

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Forward Air Profile

Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.

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Institutional Ownership by Quarter for Forward Air (NASDAQ:FWRD)

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