Nordea Investment Management AB purchased a new position in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 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 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Headlands Technologies LLC acquired a new stake in shares of Forward Air during the 4th quarter worth about $52,000. UMB Bank n.a. grew its stake in shares of Forward Air by 413.5% in the 1st quarter. UMB Bank n.a. now owns 837 shares of the transportation company's stock valued at $26,000 after purchasing an additional 674 shares during the last quarter. TFO Wealth Partners LLC grew its stake in shares of Forward Air by 116,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company's stock valued at $73,000 after purchasing an additional 1,162 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in shares of Forward Air in the fourth quarter valued at approximately $99,000. Finally, Spire Wealth Management purchased a new stake in shares of Forward Air in the first quarter valued at approximately $75,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
FWRD has been the topic of several research reports. Wolfe Research upgraded Forward Air from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, May 28th. Robert W. Baird increased their price target on Forward Air from $14.00 to $17.00 and gave the company a "neutral" rating in a research note on Wednesday, July 3rd. Benchmark reissued a "hold" rating on shares of Forward Air in a research note on Wednesday, April 24th. Finally, StockNews.com lowered Forward Air from a "hold" rating to a "sell" rating in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $76.86.
Check Out Our Latest Analysis on FWRD
Forward Air Stock Up 3.8 %
Shares of Forward Air stock traded up $0.71 during trading hours on Wednesday, reaching $19.36. 549,378 shares of the company's stock were exchanged, compared to its average volume of 1,125,030. The company has a 50 day moving average of $18.12 and a two-hundred day moving average of $31.82. Forward Air Co. has a fifty-two week low of $11.21 and a fifty-two week high of $121.38. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.27. The stock has a market cap of $511.88 million, a P/E ratio of 5.66 and a beta of 1.00.
Forward Air (NASDAQ:FWRD - Get Free Report) last announced its earnings results on Wednesday, May 8th. The transportation company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.49). The business had revenue of $541.81 million for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $1.37 earnings per share. On average, sell-side analysts forecast that Forward Air Co. will post -0.46 EPS for the current fiscal year.
About Forward Air
(
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.
Further Reading
Before you consider Forward Air, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Forward Air wasn't on the list.
While Forward Air currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for September 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
