Forward Air Corporation (NASDAQ:FWRD) CAO Michael P. Mclean Sells 15,718 Shares
Forward Air Corporation (NASDAQ:FWRD) CAO Michael P. Mclean sold 15,718 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $51.05, for a total value of $802,403.90. Following the transaction, the chief accounting officer now directly owns 20,559 shares of the company’s stock, valued at $1,049,536.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Forward Air Corporation (NASDAQ:FWRD) traded down 0.60% on Tuesday, reaching $51.21. The company had a trading volume of 136,319 shares. Forward Air Corporation has a 52-week low of $40.07 and a 52-week high of $56.52. The company’s 50-day moving average is $53.17 and its 200-day moving average is $50.39. The company has a market capitalization of $1.55 billion, a PE ratio of 26.78 and a beta of 1.06.
Forward Air Corporation (NASDAQ:FWRD) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.06. The firm had revenue of $267.50 million during the quarter, compared to analysts’ expectations of $256.98 million. Forward Air Corporation had a return on equity of 13.31% and a net margin of 5.68%. Forward Air Corporation’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 earnings per share. Equities analysts anticipate that Forward Air Corporation will post $2.35 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.17%. Forward Air Corporation’s dividend payout ratio (DPR) is 31.25%.
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Several institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new position in Forward Air Corporation during the first quarter worth $114,000. Huntington National Bank boosted its position in Forward Air Corporation by 8.1% in the second quarter. Huntington National Bank now owns 2,204 shares of the transportation company’s stock worth $117,000 after buying an additional 165 shares during the period. TrimTabs Asset Management LLC boosted its position in Forward Air Corporation by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 2,482 shares of the transportation company’s stock worth $118,000 after buying an additional 1,168 shares during the period. US Bancorp DE boosted its position in Forward Air Corporation by 22.6% in the second quarter. US Bancorp DE now owns 2,411 shares of the transportation company’s stock worth $129,000 after buying an additional 445 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in Forward Air Corporation by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 3,340 shares of the transportation company’s stock worth $158,000 after buying an additional 30 shares during the period. 99.04% of the stock is owned by institutional investors.
Several research analysts have recently weighed in on the company. Zacks Investment Research downgraded Forward Air Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub downgraded Forward Air Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Wolfe Research downgraded Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 1st. Finally, Stifel Nicolaus upped their target price on Forward Air Corporation from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $49.75.
About Forward Air Corporation
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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