Public Sector Pension Investment Board Purchases 6,846 Shares of Forward Air Co. (NASDAQ:FWRD)

Public Sector Pension Investment Board grew its position in Forward Air Co. (NASDAQ:FWRD) by 10.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,967 shares of the transportation company’s stock after purchasing an additional 6,846 shares during the quarter. Public Sector Pension Investment Board’s holdings in Forward Air were worth $1,332,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FWRD. TFO Wealth Partners LLC raised its position 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 purchasing an additional 1,162 shares during the period. Aristides Capital LLC bought a new position in shares of Forward Air in the fourth quarter valued at approximately $246,000. Schroder Investment Management Group raised its position in shares of Forward Air by 23.4% in the fourth quarter. Schroder Investment Management Group now owns 410,664 shares of the transportation company’s stock valued at $25,818,000 after purchasing an additional 77,909 shares during the period. Virtu Financial LLC bought a new position in shares of Forward Air in the fourth quarter valued at approximately $317,000. Finally, Vanguard Group Inc. raised its position in shares of Forward Air by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 2,982,873 shares of the transportation company’s stock valued at $187,533,000 after purchasing an additional 63,322 shares during the period. Institutional investors own 97.03% of the company’s stock.

Forward Air Trading Down 2.8 %

Shares of Forward Air stock opened at $34.41 on Wednesday. The firm has a market capitalization of $909.73 million, a PE ratio of 10.06 and a beta of 1.02. The company has a debt-to-equity ratio of 4.70, a current ratio of 1.33 and a quick ratio of 1.33. The company’s fifty day moving average price is $30.39 and its two-hundred day moving average price is $24.78. Forward Air Co. has a 52-week low of $11.21 and a 52-week high of $79.51.

Forward Air (NASDAQ:FWRD) last announced 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). The business had revenue of $643.67 million during the quarter, compared to the consensus estimate of $642.92 million. Forward Air had a negative net margin of 30.77% and a negative return on equity of 79.11%. The company’s quarterly revenue was up 92.9% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. On average, analysts expect that Forward Air Co. will post -1.01 EPS for the current year.

Wall Street Analyst Weigh In

FWRD has been the topic of a number of research reports. Robert W. Baird boosted their target price 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. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $51.00.

About Forward Air

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.