Alps Advisors Inc. Sells 360 Shares of Forward Air Co. (FWRD)
Alps Advisors Inc. cut its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 5.3% during the first quarter, HoldingsChannel reports. The firm owned 6,396 shares of the transportation company’s stock after selling 360 shares during the period. Alps Advisors Inc.’s holdings in Forward Air were worth $414,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC bought a new position in shares of Forward Air during the fourth quarter valued at approximately $42,000. Bank of Montreal Can lifted its position in Forward Air by 13.2% during the fourth quarter. Bank of Montreal Can now owns 1,781 shares of the transportation company’s stock valued at $98,000 after acquiring an additional 208 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in Forward Air during the fourth quarter valued at approximately $99,000. Amalgamated Bank purchased a new stake in Forward Air during the fourth quarter valued at approximately $252,000. Finally, Brinker Capital Inc. purchased a new stake in Forward Air during the first quarter valued at approximately $263,000. Hedge funds and other institutional investors own 98.05% of the company’s stock.
A number of equities research analysts recently commented on FWRD shares. ValuEngine raised shares of Forward Air from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. BidaskClub raised shares of Forward Air from a “hold” rating to a “buy” rating in a research report on Saturday, February 23rd. Deutsche Bank increased their target price on shares of Forward Air from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Zacks Investment Research cut shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $69.25.
NASDAQ:FWRD opened at $60.66 on Thursday. Forward Air Co. has a 52 week low of $51.54 and a 52 week high of $72.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market cap of $1.73 billion, a P/E ratio of 19.35 and a beta of 1.59.
Forward Air (NASDAQ:FWRD) last posted its earnings results on Wednesday, April 24th. The transportation company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. Forward Air had a net margin of 6.92% and a return on equity of 16.88%. The company had revenue of $321.47 million during the quarter, compared to analysts’ expectations of $324.22 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. Forward Air’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that Forward Air Co. will post 3.27 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.19%. Forward Air’s dividend payout ratio is currently 23.08%.
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Forward Air Company Profile
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-Than-Truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).
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