7,783 Shares in Forward Air Corporation (FWRD) Acquired by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. bought a new stake in Forward Air Corporation (NASDAQ:FWRD) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,783 shares of the transportation company’s stock, valued at approximately $445,000.
Several other hedge funds have also added to or reduced their stakes in FWRD. Cambiar Investors LLC bought a new position in shares of Forward Air in the third quarter valued at approximately $8,421,000. Victory Capital Management Inc. grew its holdings in shares of Forward Air by 12.5% in the third quarter. Victory Capital Management Inc. now owns 1,255,469 shares of the transportation company’s stock valued at $71,850,000 after acquiring an additional 139,363 shares in the last quarter. AHL Partners LLP grew its holdings in shares of Forward Air by 358.3% in the second quarter. AHL Partners LLP now owns 95,269 shares of the transportation company’s stock valued at $5,076,000 after acquiring an additional 74,480 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Forward Air by 93.2% in the second quarter. Alliancebernstein L.P. now owns 86,110 shares of the transportation company’s stock valued at $4,588,000 after acquiring an additional 41,540 shares in the last quarter. Finally, Gotham Asset Management LLC grew its holdings in shares of Forward Air by 58.5% in the second quarter. Gotham Asset Management LLC now owns 61,757 shares of the transportation company’s stock valued at $3,290,000 after acquiring an additional 22,786 shares in the last quarter. 95.86% of the stock is owned by institutional investors.
FWRD has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on Forward Air from $47.00 to $52.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Robert W. Baird reaffirmed a “hold” rating and issued a $60.00 target price on shares of Forward Air in a report on Friday, October 6th. KeyCorp reaffirmed a “hold” rating on shares of Forward Air in a report on Friday, September 22nd. Cowen reissued a “hold” rating and set a $51.00 price objective on shares of Forward Air in a report on Thursday, August 10th. Finally, Zacks Investment Research lowered Forward Air from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $55.33.
Forward Air Corporation (NASDAQ:FWRD) opened at $56.92 on Friday. Forward Air Corporation has a twelve month low of $43.88 and a twelve month high of $59.97. The firm has a market capitalization of $1,690.00, a price-to-earnings ratio of 24.85 and a beta of 1.20. 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 (NASDAQ:FWRD) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. Forward Air had a return on equity of 13.76% and a net margin of 6.10%. The business had revenue of $280.20 million during the quarter, compared to analyst estimates of $278.75 million. During the same period in the prior year, the company earned $0.51 earnings per share. Forward Air’s revenue was up 12.3% compared to the same quarter last year. equities research analysts predict that Forward Air Corporation will post 2.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 23rd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.05%. The ex-dividend date is Tuesday, November 21st. Forward Air’s dividend payout ratio (DPR) is 28.17%.
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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