Invesco Ltd. Purchases 82,834 Shares of Forward Air Corporation $FWRD

Invesco Ltd. lifted its position in shares of Forward Air Corporation (NASDAQ:FWRD) by 43.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 273,211 shares of the transportation company’s stock after acquiring an additional 82,834 shares during the quarter. Invesco Ltd. owned approximately 0.90% of Forward Air worth $5,489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC boosted its position in Forward Air by 81.3% during the first quarter. Byrne Asset Management LLC now owns 1,940 shares of the transportation company’s stock worth $39,000 after purchasing an additional 870 shares during the period. Public Employees Retirement System of Ohio bought a new position in Forward Air in the 4th quarter worth approximately $72,000. Aquatic Capital Management LLC bought a new position in Forward Air in the 4th quarter worth approximately $138,000. Quantinno Capital Management LP boosted its holdings in Forward Air by 9.7% in the 4th quarter. Quantinno Capital Management LP now owns 6,949 shares of the transportation company’s stock worth $224,000 after buying an additional 615 shares during the period. Finally, ProShare Advisors LLC bought a new position in Forward Air in the 4th quarter worth approximately $240,000. Institutional investors own 97.03% of the company’s stock.

Forward Air Stock Performance

Shares of FWRD opened at $31.76 on Thursday. The company has a market cap of $977.89 million, a PE ratio of -5.30 and a beta of 1.43. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 7.91. The stock has a 50-day moving average price of $27.94 and a 200-day moving average price of $22.44. Forward Air Corporation has a 12-month low of $9.78 and a 12-month high of $40.92.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings results on Monday, August 11th. The transportation company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.24). Forward Air had a negative net margin of 6.86% and a negative return on equity of 40.36%. The business had revenue of $618.84 million for the quarter, compared to the consensus estimate of $627.98 million. During the same quarter last year, the business posted ($23.29) EPS. The business’s revenue was down 3.9% compared to the same quarter last year. As a group, equities analysts forecast that Forward Air Corporation will post -0.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FWRD has been the subject of a number of analyst reports. Stifel Nicolaus raised their price target on Forward Air from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Wall Street Zen upgraded Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Finally, Susquehanna raised their target price on Forward Air from $40.00 to $43.00 and gave the stock a “positive” rating in a research note on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.75.

Forward Air Company Profile

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.