Strs Ohio bought a new position in Forward Air Co. (NASDAQ:FWRD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,400 shares of the transportation company’s stock, valued at approximately $827,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of FWRD. Ameritas Investment Partners Inc. increased its stake in shares of Forward Air by 10.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,636 shares of the transportation company’s stock worth $140,000 after buying an additional 246 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Forward Air by 1,496.7% in the third quarter. Meeder Asset Management Inc. now owns 3,385 shares of the transportation company’s stock worth $194,000 after buying an additional 3,173 shares during the period. BB&T Corp purchased a new position in shares of Forward Air in the third quarter worth $208,000. Amalgamated Bank purchased a new position in shares of Forward Air in the second quarter worth $222,000. Finally, Stevens Capital Management LP purchased a new position in shares of Forward Air in the third quarter worth $239,000. 95.88% of the stock is currently owned by institutional investors.
Several research analysts recently commented on the stock. Robert W. Baird raised shares of Forward Air from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 18th. Stephens reiterated a “buy” rating and issued a $80.00 price target on shares of Forward Air in a report on Wednesday, January 10th. Zacks Investment Research upgraded shares of Forward Air from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Tuesday, January 9th. Stifel Nicolaus lifted their price target on shares of Forward Air from $47.00 to $52.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Finally, Cowen reiterated a “market perform” rating and issued a $54.00 price target (up previously from $51.00) on shares of Forward Air in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $62.60.
Shares of Forward Air Co. (NASDAQ FWRD) opened at $59.36 on Thursday. The firm has a market cap of $1,731.85, a price-to-earnings ratio of 27.87 and a beta of 1.17. Forward Air Co. has a fifty-two week low of $45.86 and a fifty-two week high of $64.80. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.08.
Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, February 7th. The transportation company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. The business had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $301.47 million. Forward Air had a net margin of 6.10% and a return on equity of 13.76%. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 earnings per share. equities analysts expect that Forward Air Co. will post 2.34 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Thursday, March 8th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.01%. Forward Air’s dividend payout ratio (DPR) is currently 28.17%.
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Forward Air Profile
Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.
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