Forward Air Co. (NASDAQ:FWRD) Holdings Cut by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its stake in Forward Air Co. (NASDAQ:FWRD) by 57.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 690 shares of the transportation company’s stock after selling 925 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Forward Air were worth $43,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in Forward Air in the 1st quarter worth approximately $45,000. Rockefeller Capital Management L.P. raised its holdings in shares of Forward Air by 39.5% during 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 in the last quarter. CWM LLC raised its holdings in shares of Forward Air by 86.9% during 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 in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Forward Air by 137.8% during 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 in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Forward Air by 306.9% during 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 in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Stock Performance

NASDAQ:FWRD opened at $23.78 on Monday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $627.08 million, a PE ratio of 3.70 and a beta of 0.98. The firm’s fifty day simple moving average is $31.61 and its 200 day simple moving average is $51.44. Forward Air Co. has a 1 year low of $22.08 and a 1 year high of $121.38.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings results on Thursday, February 29th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.16). The company had revenue of $338.43 million during the quarter, compared to analyst estimates of $406.96 million. Forward Air had a return on equity of 15.30% and a net margin of 10.58%. The business’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.65 earnings per share. On average, sell-side analysts anticipate that Forward Air Co. will post 0.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FWRD. StockNews.com downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a report on Monday, March 18th. Robert W. Baird cut their price target on shares of Forward Air from $50.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, March 1st. Benchmark restated a “hold” rating on shares of Forward Air in a report on Thursday. Wolfe Research lowered shares of Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a research note on Wednesday, January 10th. Finally, Stifel Nicolaus lowered their target price on shares of Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $80.14.

About Forward Air

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 shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.