SG Americas Securities LLC Acquires Shares of 11,541 Forward Air Co. (NASDAQ:FWRD)

SG Americas Securities LLC acquired a new stake in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,541 shares of the transportation company's stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Louisiana State Employees Retirement System purchased a new position in shares of Forward Air during the 4th quarter valued at approximately $805,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Forward Air by 24.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,415 shares of the transportation company's stock worth $340,000 after acquiring an additional 1,072 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of Forward Air by 1.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 15,070 shares of the transportation company's stock worth $947,000 after acquiring an additional 236 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Forward Air by 27.1% during the 4th quarter. New York State Common Retirement Fund now owns 122,011 shares of the transportation company's stock worth $7,671,000 after acquiring an additional 26,016 shares in the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Forward Air during the 4th quarter valued at about $233,000. Institutional investors and hedge funds own 97.03% of the company's stock.

Forward Air Price Performance

Shares of FWRD traded up $0.74 during trading hours on Friday, hitting $32.02. 725,167 shares of the stock were exchanged, compared to its average volume of 1,072,194. The stock's 50-day moving average price is $23.59 and its two-hundred day moving average price is $25.33. Forward Air Co. has a 12-month low of $11.21 and a 12-month high of $79.51. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market cap of $846.54 million, a price-to-earnings ratio of 9.36 and a beta of 1.00.

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

Analysts Set New Price Targets

FWRD has been the subject of a number of analyst reports. Wolfe Research raised Forward Air from an "underperform" rating to a "peer perform" rating in a report on Tuesday, May 28th. Benchmark reiterated a "hold" rating on shares of Forward Air in a research report on Monday, August 12th. Finally, Robert W. Baird boosted their price target on shares of Forward Air from $17.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $57.80.

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.