Boston Trust Walden Corp Acquires New Stake in Forward Air Co. (NASDAQ:FWRD)

Boston Trust Walden Corp bought a new position in Forward Air Co. (NASDAQ:FWRD - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 32,116 shares of the transportation company's stock, valued at approximately $611,000. Boston Trust Walden Corp owned about 0.12% of Forward Air as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in FWRD. Headlands Technologies LLC bought a new position in Forward Air in the 4th quarter valued at $52,000. UMB Bank n.a. raised its holdings in shares of Forward Air by 413.5% in the first quarter. UMB Bank n.a. now owns 837 shares of the transportation company's stock valued at $26,000 after buying an additional 674 shares during the last quarter. TFO Wealth Partners LLC raised its holdings in shares of Forward Air by 116,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company's stock valued at $73,000 after buying an additional 1,162 shares during the last quarter. Gladius Capital Management LP lifted its position in Forward Air by 33.5% during the 2nd quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company's stock worth $37,000 after buying an additional 493 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Forward Air by 2,329.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company's stock worth $38,000 after acquiring an additional 1,910 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports 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 boosted their price objective on shares of Forward Air from $17.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, August 8th. Finally, Benchmark reiterated a "hold" rating on shares of Forward Air in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $57.80.

Forward Air Trading Up 8.8 %

FWRD stock traded up $2.52 during midday trading on Monday, reaching $31.07. The company's stock had a trading volume of 1,139,271 shares, compared to its average volume of 1,077,919. The business's 50-day simple moving average is $22.57 and its 200-day simple moving average is $25.63. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.27. Forward Air Co. has a 52 week low of $11.21 and a 52 week high of $79.51. The stock has a market cap of $821.43 million, a PE ratio of 9.08 and a beta of 1.00.

Forward Air (NASDAQ:FWRD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The transportation company reported ($23.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($23.11). Forward Air had a return on equity of 5.37% and a net margin of 4.08%. The company had revenue of $643.67 million during the quarter, compared to the consensus estimate of $642.92 million. During the same quarter in the prior year, the business earned $0.91 earnings per share. The firm's revenue for the quarter was up 92.9% on a year-over-year basis. As a group, sell-side analysts expect that Forward Air Co. will post -0.46 EPS for the current year.

Forward Air 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.