Martingale Asset Management L P lowered its position in Forward Air Co. (NASDAQ:FWRD) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,523 shares of the transportation company’s stock after selling 10,400 shares during the quarter. Martingale Asset Management L P’s holdings in Forward Air were worth $4,166,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of FWRD. Ameritas Investment Partners Inc. lifted its stake in 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 acquiring an additional 246 shares during the last quarter. BB&T Corp purchased a new position in Forward Air in the third quarter worth approximately $208,000. Sawgrass Asset Management LLC purchased a new position in Forward Air in the fourth quarter worth approximately $215,000. Everence Capital Management Inc. acquired a new stake in Forward Air during the fourth quarter worth approximately $218,000. Finally, Stevens Capital Management LP acquired a new stake in Forward Air during the third quarter worth approximately $239,000. Institutional investors own 94.32% of the company’s stock.
A number of analysts have weighed in on FWRD shares. BidaskClub raised shares of Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Zacks Investment Research cut shares of Forward Air from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Stephens reissued a “buy” rating and set a $80.00 price objective on shares of Forward Air in a report on Wednesday, January 10th. Finally, Robert W. Baird raised shares of Forward Air from a “neutral” rating to an “outperform” rating in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Forward Air presently has an average rating of “Hold” and an average target price of $61.40.
Shares of Forward Air Co. (NASDAQ:FWRD) opened at $55.09 on Wednesday. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.08. Forward Air Co. has a 1-year low of $45.86 and a 1-year high of $64.80. The firm has a market cap of $1,644.01, a P/E ratio of 19.06 and a beta of 1.17.
Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Wednesday, February 7th. The transportation company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Forward Air had a net margin of 7.93% and a return on equity of 13.91%. The company had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $301.47 million. During the same quarter last year, the company earned $0.58 earnings per share. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. sell-side analysts expect that Forward Air Co. will post 3.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Thursday, March 8th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.09%. Forward Air’s payout ratio is 20.76%.
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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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