Forward Air Corporation $FWRD Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its stake in Forward Air Corporation (NASDAQ:FWRDFree Report) by 36.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,440 shares of the transportation company’s stock after selling 812 shares during the period. Public Employees Retirement System of Ohio’s holdings in Forward Air were worth $35,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Littlejohn & Co. LLC lifted its stake in shares of Forward Air by 70.1% in the first quarter. Littlejohn & Co. LLC now owns 2,814,401 shares of the transportation company’s stock valued at $56,541,000 after purchasing an additional 1,159,747 shares during the period. Vanguard Group Inc. lifted its stake in shares of Forward Air by 0.3% in the first quarter. Vanguard Group Inc. now owns 2,050,268 shares of the transportation company’s stock valued at $41,190,000 after purchasing an additional 6,702 shares during the period. Ancora Advisors LLC lifted its stake in shares of Forward Air by 28.9% in the first quarter. Ancora Advisors LLC now owns 1,230,390 shares of the transportation company’s stock valued at $24,719,000 after purchasing an additional 275,500 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Forward Air by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 761,231 shares of the transportation company’s stock valued at $15,293,000 after purchasing an additional 5,388 shares during the period. Finally, Penn Capital Management Company LLC lifted its stake in shares of Forward Air by 23.5% in the first quarter. Penn Capital Management Company LLC now owns 470,576 shares of the transportation company’s stock valued at $9,475,000 after purchasing an additional 89,629 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on FWRD shares. Stifel Nicolaus raised their price objective on shares of Forward Air from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Susquehanna lifted their target price on shares of Forward Air from $40.00 to $43.00 and gave the stock a “positive” rating in a research report on Tuesday, August 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $37.75.

View Our Latest Research Report on FWRD

Forward Air Stock Performance

Shares of NASDAQ FWRD opened at $24.38 on Thursday. The company has a market cap of $750.66 million, a PE ratio of -4.07 and a beta of 1.39. Forward Air Corporation has a 12 month low of $9.78 and a 12 month high of $40.92. The company has a debt-to-equity ratio of 7.91, a current ratio of 1.20 and a quick ratio of 1.20. The company has a 50-day simple moving average of $28.42 and a 200-day simple moving average of $23.08.

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

Forward Air 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.

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

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