Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Forward Air Co. (NASDAQ:FWRD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Forward Air Co. (NASDAQ:FWRD) by 24.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,415 shares of the transportation company’s stock after purchasing an additional 1,072 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Forward Air were worth $340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FWRD. Louisiana State Employees Retirement System purchased a new stake in shares of Forward Air during the fourth quarter valued at approximately $805,000. Equitable Trust Co. lifted its position in Forward Air by 7.0% in the 4th quarter. Equitable Trust Co. now owns 4,205 shares of the transportation company’s stock valued at $264,000 after acquiring an additional 276 shares in the last quarter. Boston Trust Walden Corp boosted its stake in Forward Air by 0.9% during the 4th quarter. Boston Trust Walden Corp now owns 299,755 shares of the transportation company’s stock valued at $18,846,000 after purchasing an additional 2,710 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in shares of Forward Air by 53.7% in the 4th quarter. AlphaMark Advisors LLC now owns 3,433 shares of the transportation company’s stock worth $216,000 after purchasing an additional 1,199 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Forward Air by 46.0% in the fourth quarter. Pacer Advisors Inc. now owns 645,931 shares of the transportation company’s stock worth $40,610,000 after purchasing an additional 203,597 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FWRD has been the topic of several recent analyst reports. Wolfe Research cut Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective on the stock. in a research report on Wednesday, January 10th. Benchmark reiterated a “hold” rating on shares of Forward Air in a research note on Wednesday, April 24th. StockNews.com downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Stifel Nicolaus cut their target price on shares of Forward Air from $80.00 to $55.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Finally, Robert W. Baird lowered their price target on Forward Air from $50.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $80.14.

Forward Air Stock Up 3.1 %

NASDAQ FWRD opened at $21.78 on Friday. Forward Air Co. has a 52 week low of $20.95 and a 52 week high of $121.38. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 2.38. The company has a market capitalization of $574.34 million, a P/E ratio of 3.39 and a beta of 1.06. The stock’s 50-day moving average price is $28.03 and its 200-day moving average price is $48.07.

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

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.