BlueCrest Capital Management Ltd bought a new position in shares of Forward Air Co. (NASDAQ:FWRD) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 8,707 shares of the transportation company’s stock, valued at approximately $500,000.
A number of other institutional investors have also modified their holdings of FWRD. Sawgrass Asset Management LLC bought a new position in Forward Air during the 4th quarter worth about $215,000. Everence Capital Management Inc. bought a new position in Forward Air during the 4th quarter worth about $218,000. Stevens Capital Management LP bought a new position in Forward Air during the 3rd quarter worth about $239,000. Meeder Asset Management Inc. grew its holdings in Forward Air by 36.3% during the 4th quarter. Meeder Asset Management Inc. now owns 4,613 shares of the transportation company’s stock worth $265,000 after acquiring an additional 1,228 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in Forward Air during the 3rd quarter worth about $306,000. Institutional investors own 98.39% of the company’s stock.
Several brokerages have issued reports on FWRD. Zacks Investment Research cut shares of Forward Air from a “buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird upgraded shares of Forward Air from a “neutral” rating to an “outperform” rating in a report on Thursday, January 18th. BidaskClub upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Finally, Stephens reissued a “buy” rating and set a $80.00 price target on shares of Forward Air in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $61.40.
In other Forward Air news, Director George M. Lynch sold 2,443 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $55.47, for a total transaction of $135,513.21. Following the completion of the sale, the director now directly owns 9,940 shares of the company’s stock, valued at $551,371.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.
Shares of Forward Air Co. (NASDAQ FWRD) opened at $55.78 on Friday. The company has a market cap of $1,641.05, a PE ratio of 19.30 and a beta of 1.24. 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 2.68 and a debt-to-equity ratio of 0.08.
Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, February 7th. The transportation company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The business had revenue of $306.10 million during the quarter, compared to analyst estimates of $301.47 million. Forward Air had a net margin of 7.93% and a return on equity of 13.91%. The company’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 earnings per share. equities research analysts predict that Forward Air Co. will post 2.99 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Thursday, March 8th will be given 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 payout ratio is 20.76%.
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Forward Air Company 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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