Capital Fund Management S.A. bought a new position in shares of Forward Air Co. (NASDAQ:FWRD) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 6,300 shares of the transportation company’s stock, valued at approximately $362,000.
Several other institutional investors also recently bought and sold shares of FWRD. Cambiar Investors LLC acquired a new position in shares of Forward Air during the 3rd quarter worth about $8,421,000. Victory Capital Management Inc. grew its position in shares of Forward Air by 12.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,255,469 shares of the transportation company’s stock worth $71,850,000 after buying an additional 139,363 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Forward Air during the 4th quarter worth about $7,980,000. Boston Partners acquired a new position in shares of Forward Air during the 4th quarter worth about $2,756,000. Finally, APG Asset Management N.V. grew its position in shares of Forward Air by 337.8% during the 4th quarter. APG Asset Management N.V. now owns 39,400 shares of the transportation company’s stock worth $1,885,000 after buying an additional 30,400 shares during the period. Institutional investors own 94.32% of the company’s stock.
Several equities analysts have recently weighed in on the company. Stephens reiterated a “buy” rating and set a $80.00 price objective on shares of Forward Air in a report on Wednesday, January 10th. Zacks Investment Research upgraded Forward Air from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Tuesday, January 9th. Cowen reiterated a “market perform” rating and set a $54.00 price objective (up previously from $51.00) on shares of Forward Air in a report on Monday, October 30th. BidaskClub cut Forward Air from a “sell” rating to a “strong sell” rating in a report on Wednesday. Finally, Robert W. Baird upgraded Forward Air from a “neutral” rating to an “outperform” rating in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $61.40.
Forward Air Co. (FWRD) opened at $55.04 on Friday. Forward Air Co. has a 1-year low of $45.86 and a 1-year high of $64.80. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1,619.91, a PE ratio of 19.04 and a beta of 1.17.
Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Wednesday, February 7th. The transportation company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Forward Air had a return on equity of 13.91% and a net margin of 7.93%. The business had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $301.47 million. During the same quarter in the previous year, the business posted $0.58 EPS. Forward Air’s revenue for the quarter was up 15.6% on a year-over-year basis. analysts forecast that Forward Air Co. will post 3.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Thursday, March 8th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, March 7th. Forward Air’s payout ratio is 20.76%.
In other Forward Air news, Chairman Bruce A. Campbell sold 5,264 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $55.43, for a total value of $291,783.52. Following the sale, the chairman now owns 153,454 shares in the company, valued at approximately $8,505,955.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris C. Ruble sold 23,020 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $57.75, for a total value of $1,329,405.00. Following the completion of the sale, the insider now owns 28,279 shares in the company, valued at approximately $1,633,112.25. The disclosure for this sale can be found here. Insiders sold a total of 57,128 shares of company stock worth $3,243,834 in the last 90 days. 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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