Vanguard Group Inc. Sells 33,234 Shares of Forward Air Co. (NASDAQ:FWRD)

Vanguard Group Inc. decreased its stake in shares of Forward Air Co. (NASDAQ:FWRDFree Report) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,919,551 shares of the transportation company’s stock after selling 33,234 shares during the period. Vanguard Group Inc. owned 0.11% of Forward Air worth $200,690,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of Forward Air during the 1st quarter worth about $45,000. CWM LLC boosted its holdings in Forward Air by 86.9% in the 3rd quarter. CWM LLC now owns 669 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 311 shares during the period. Signaturefd LLC boosted its holdings in Forward Air by 306.9% in the 3rd quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock valued at $65,000 after purchasing an additional 715 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Forward Air by 39.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 185 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Forward Air by 137.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 761 shares of the transportation company’s stock valued at $82,000 after purchasing an additional 441 shares during the period. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Robert W. Baird cut their price objective on shares of Forward Air from $50.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, March 1st. StockNews.com downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a report on Monday, March 18th. Stifel Nicolaus cut their price objective on shares of Forward Air from $80.00 to $55.00 and set a “hold” rating for the company in a report on Monday, January 22nd. Finally, Wolfe Research downgraded shares of Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $80.14.

Check Out Our Latest Research Report on FWRD

Forward Air Price Performance

Shares of NASDAQ:FWRD opened at $31.11 on Friday. The firm has a 50 day moving average of $37.26 and a 200-day moving average of $55.90. The stock has a market capitalization of $820.37 million, a PE ratio of 4.85 and a beta of 1.00. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 2.38. Forward Air Co. has a 12 month low of $26.35 and a 12 month high of $121.38.

Forward Air (NASDAQ:FWRDGet Free Report) last issued its earnings results on Thursday, February 29th. The transportation company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.16). The firm had revenue of $338.43 million during the quarter, compared to analyst estimates of $406.96 million. Forward Air had a net margin of 10.58% and a return on equity of 15.30%. Forward Air’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 earnings per share. On average, equities research analysts predict that Forward Air Co. will post 0.58 EPS for the current fiscal year.

Forward Air Profile

(Free Report)

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.

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

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