Forward Air Co. (NASDAQ:FWRD) Shares Sold by Quest Partners LLC

Quest Partners LLC lessened its holdings in Forward Air Co. (NASDAQ:FWRD) by 50.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,362 shares of the transportation company’s stock after selling 1,371 shares during the quarter. Quest Partners LLC’s holdings in Forward Air were worth $26,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FWRD. Gladius Capital Management LP raised its position in shares of Forward Air by 33.5% in the 2nd quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 493 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Forward Air by 3.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the transportation company’s stock valued at $303,000 after purchasing an additional 600 shares in the last quarter. 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 worth $26,000 after buying an additional 674 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of Forward Air by 98.5% in the first quarter. Headlands Technologies LLC now owns 1,634 shares of the transportation company’s stock worth $51,000 after buying an additional 811 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its stake in shares of Forward Air by 36.2% during the first quarter. EntryPoint Capital LLC now owns 3,220 shares of the transportation company’s stock worth $100,000 after buying an additional 856 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Robert W. Baird raised their target price on Forward Air from $17.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Wolfe Research raised Forward Air from an “underperform” rating to a “peer perform” rating in a report on Tuesday, May 28th. Finally, Benchmark reaffirmed a “hold” rating on shares of Forward Air in a report on Monday, August 12th. One research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $51.00.

Forward Air Price Performance

Shares of FWRD opened at $35.94 on Friday. The business’s 50-day moving average is $28.81 and its two-hundred day moving average is $24.58. The company has a market capitalization of $950.18 million, a P/E ratio of 10.51 and a beta of 1.02. Forward Air Co. has a fifty-two week low of $11.21 and a fifty-two week high of $79.51. The company has a debt-to-equity ratio of 4.70, a quick ratio of 1.33 and a current ratio of 1.33.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Wednesday, August 7th. The transportation company reported ($23.29) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $643.67 million for the quarter, compared to analysts’ expectations of $642.92 million. During the same quarter in the prior year, the business posted $0.91 earnings per share. The firm’s revenue was up 92.9% compared to the same quarter last year. Research analysts predict that Forward Air Co. will post -1.01 earnings per share for the current year.

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.