Nordea Investment Management AB Acquires New Holdings in Forward Air Co. (NASDAQ:FWRD)

Nordea Investment Management AB acquired a new stake in shares of Forward Air Co. (NASDAQ:FWRDFree Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 109,288 shares of the transportation company’s stock, valued at approximately $3,437,000. Nordea Investment Management AB owned 0.41% of Forward Air as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund lifted its position in Forward Air by 1.6% during the fourth quarter. Illinois Municipal Retirement Fund now owns 15,070 shares of the transportation company’s stock valued at $947,000 after purchasing an additional 236 shares during the period. Equitable Trust Co. raised its position in Forward Air by 7.0% in the fourth quarter. Equitable Trust Co. now owns 4,205 shares of the transportation company’s stock worth $264,000 after acquiring an additional 276 shares during the period. UMB Bank n.a. raised its position in Forward Air by 413.5% in the first quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock worth $26,000 after acquiring an additional 674 shares during the period. Donoghue Forlines LLC raised its position in Forward Air by 18.5% in the fourth quarter. Donoghue Forlines LLC now owns 4,639 shares of the transportation company’s stock worth $292,000 after acquiring an additional 724 shares during the period. Finally, Headlands Technologies LLC bought a new position in Forward Air in the fourth quarter worth approximately $52,000. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wolfe Research upgraded shares of Forward Air from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, May 28th. Robert W. Baird increased their price target on shares of Forward Air from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. StockNews.com downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Finally, Benchmark reiterated a “hold” rating on shares of Forward Air in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $76.86.

Read Our Latest Research Report on FWRD

Forward Air Stock Performance

Shares of NASDAQ FWRD opened at $18.65 on Wednesday. The firm has a fifty day moving average price of $18.16 and a 200-day moving average price of $31.91. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market cap of $493.11 million, a PE ratio of 5.45 and a beta of 1.00. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $121.38.

Forward Air (NASDAQ:FWRDGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The transportation company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.49). The firm had revenue of $541.81 million during the quarter, compared to analysts’ expectations of $644.00 million. Forward Air had a return on equity of 5.37% and a net margin of 4.08%. During the same period last year, the company earned $1.37 earnings per share. Equities analysts anticipate that Forward Air Co. will post -0.46 earnings per share for the current fiscal year.

Forward Air Company 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 shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.

See Also

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

Receive News & Ratings for Forward Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air and related companies with MarketBeat.com's FREE daily email newsletter.