Forward Air Co. (NASDAQ:FWRD) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its stake in Forward Air Co. (NASDAQ:FWRD) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,734 shares of the transportation company’s stock after buying an additional 1,478 shares during the quarter. American Century Companies Inc. owned about 0.17% of Forward Air worth $871,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ridgemont Partners Management LLC boosted its position in shares of Forward Air by 172.7% during the second quarter. Ridgemont Partners Management LLC now owns 1,910,615 shares of the transportation company’s stock worth $36,378,000 after buying an additional 1,210,006 shares during the period. Private Management Group Inc. acquired a new stake in shares of Forward Air during the first quarter worth about $31,007,000. Vanguard Group Inc. lifted its position in shares of Forward Air by 14.2% during the first quarter. Vanguard Group Inc. now owns 3,407,797 shares of the transportation company’s stock worth $106,017,000 after purchasing an additional 424,924 shares in the last quarter. Paralel Advisors LLC grew its holdings in shares of Forward Air by 47.1% in the second quarter. Paralel Advisors LLC now owns 750,000 shares of the transportation company’s stock valued at $14,280,000 after purchasing an additional 240,000 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Forward Air during the 1st quarter worth approximately $5,895,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Price Performance

Forward Air stock opened at $34.41 on Wednesday. The stock has a market cap of $909.73 million, a P/E ratio of 10.06 and a beta of 1.02. The company has a fifty day simple moving average of $30.39 and a 200-day simple moving average of $24.78. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 4.70. Forward Air Co. has a 12-month low of $11.21 and a 12-month high of $79.51.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings data 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). Forward Air had a negative return on equity of 79.11% and a negative net margin of 30.77%. The business had revenue of $643.67 million for the quarter, compared to analyst estimates of $642.92 million. During the same period in the prior year, the company posted $0.91 earnings per share. The company’s revenue was up 92.9% compared to the same quarter last year. Equities analysts expect that Forward Air Co. will post -1.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Benchmark restated a “hold” rating on shares of Forward Air in a research note on Monday, August 12th. Robert W. Baird boosted 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.