Forward Air Co. (NASDAQ:FWRD) Stock Position Boosted by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its stake in Forward Air Co. (NASDAQ:FWRD) by 62.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,990 shares of the transportation company’s stock after buying an additional 763 shares during the period. Nisa Investment Advisors LLC’s holdings in Forward Air were worth $70,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FWRD. Clearlake Capital Group L.P. grew its position in Forward Air by 255.2% in the 2nd quarter. Clearlake Capital Group L.P. now owns 3,825,000 shares of the transportation company’s stock valued at $72,828,000 after buying an additional 2,747,994 shares in the last quarter. Ridgemont Partners Management LLC grew its position in Forward Air by 172.7% in the 2nd quarter. Ridgemont Partners Management LLC now owns 1,910,615 shares of the transportation company’s stock valued at $36,378,000 after buying an additional 1,210,006 shares in the last quarter. Private Management Group Inc. bought a new position in Forward Air in the 1st quarter valued at about $31,007,000. MFN Partners Management LP bought a new position in Forward Air in the 2nd quarter valued at about $17,208,000. Finally, Federated Hermes Inc. grew its position in Forward Air by 712.5% in the 2nd quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock valued at $12,965,000 after buying an additional 597,120 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Forward Air Stock Performance

NASDAQ:FWRD opened at $36.85 on Friday. Forward Air Co. has a twelve month low of $11.21 and a twelve month high of $68.09. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 4.70. The company has a 50-day moving average of $35.67 and a 200-day moving average of $26.58. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -1.77 and a beta of 1.02.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported ($23.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($23.11). Forward Air had a negative net margin of 30.77% and a negative return on equity of 79.11%. The firm had revenue of $643.67 million for the quarter, compared to analysts’ expectations of $642.92 million. During the same period in the prior year, the company posted $0.91 earnings per share. Forward Air’s quarterly revenue was up 92.9% compared to the same quarter last year. Analysts forecast that Forward Air Co. will post -1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

FWRD has been the subject of a number of recent analyst reports. Robert W. Baird increased their target price on shares of Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Stifel Nicolaus raised their price objective on shares of Forward Air from $31.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the company a “buy” rating in a research report on Friday, October 18th. StockNews.com upgraded shares of Forward Air to a “sell” rating in a research report on Wednesday. Finally, Benchmark restated a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $39.25.

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.