Strs Ohio Sells 5,700 Shares of Forward Air Co. (NASDAQ:FWRD)

Strs Ohio decreased its holdings in Forward Air Co. (NASDAQ:FWRD) by 45.2% during the 4th quarter, HoldingsChannel reports. The firm owned 6,900 shares of the transportation company’s stock after selling 5,700 shares during the quarter. Strs Ohio’s holdings in Forward Air were worth $433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC grew its position in Forward Air by 86.9% during the 3rd quarter. CWM LLC now owns 669 shares of the transportation company’s stock worth $46,000 after acquiring an additional 311 shares during the last quarter. Signaturefd LLC grew its position in Forward Air by 306.9% during the 3rd quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock worth $65,000 after acquiring an additional 715 shares during the last quarter. Anchor Investment Management LLC bought a new stake in Forward Air during the 4th quarter worth $99,000. AlphaMark Advisors LLC bought a new stake in Forward Air during the 3rd quarter worth $154,000. Finally, Fox Run Management L.L.C. bought a new stake in Forward Air during the 3rd quarter worth $207,000. Institutional investors own 97.03% of the company’s stock.

Forward Air Stock Down 3.3 %

Shares of NASDAQ:FWRD opened at $22.27 on Monday. The business’s 50-day moving average is $29.84 and its 200-day moving average is $49.72. Forward Air Co. has a 1 year low of $21.70 and a 1 year high of $121.38. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market capitalization of $587.26 million, a price-to-earnings ratio of 3.47 and a beta of 0.98.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings results on Thursday, February 29th. The transportation company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.16). Forward Air had a return on equity of 15.30% and a net margin of 10.58%. The firm had revenue of $338.43 million for the quarter, compared to analyst estimates of $406.96 million. During the same period last year, the company posted $1.65 earnings per share. The firm’s quarterly revenue was down 16.0% compared to the same quarter last year. Equities research analysts predict that Forward Air Co. will post 0.56 earnings per share for the current year.

Analysts Set New Price Targets

FWRD has been the topic of a number of research reports. Robert W. Baird reduced their price objective on Forward Air from $50.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, March 1st. StockNews.com lowered Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Stifel Nicolaus reduced their price target on Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a research report on Monday, January 22nd. Wolfe Research lowered Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a research report on Wednesday, January 10th. Finally, Benchmark reissued a “hold” rating on shares of Forward Air in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.