Insider Selling: Forward Air Corporation (FWRD) Chairman Sells 28,744 Shares of Stock
Forward Air Corporation (NASDAQ:FWRD) Chairman Bruce A. Campbell sold 28,744 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.25, for a total transaction of $1,616,850.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Forward Air Corporation (NASDAQ:FWRD) traded up $0.02 on Friday, reaching $56.92. 133,296 shares of the company’s stock traded hands, compared to its average volume of 128,129. The firm has a market capitalization of $1,652.36, a P/E ratio of 24.24 and a beta of 1.20. Forward Air Corporation has a 52 week low of $43.88 and a 52 week high of $59.97. 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 earnings results on Wednesday, October 25th. The transportation company reported $0.58 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. The company had revenue of $280.20 million during the quarter, compared to the consensus estimate of $278.75 million. Forward Air had a net margin of 6.10% and a return on equity of 13.76%. Forward Air’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. research analysts anticipate that Forward Air Corporation will post 2.33 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of FWRD. Teachers Advisors LLC lifted its stake in shares of Forward Air by 3.7% during the first quarter. Teachers Advisors LLC now owns 50,199 shares of the transportation company’s stock worth $2,388,000 after buying an additional 1,781 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Forward Air by 53.9% during the first quarter. Renaissance Technologies LLC now owns 62,239 shares of the transportation company’s stock worth $2,961,000 after buying an additional 21,800 shares during the period. Aperio Group LLC lifted its stake in shares of Forward Air by 20.7% during the second quarter. Aperio Group LLC now owns 8,629 shares of the transportation company’s stock worth $460,000 after buying an additional 1,479 shares during the period. US Bancorp DE lifted its stake in shares of Forward Air by 22.6% during 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, Huntington National Bank lifted its stake in shares of Forward Air by 8.1% during 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. Institutional investors and hedge funds own 95.86% of the company’s stock.
FWRD has been the subject of several recent analyst reports. Cowen restated a “market perform” rating and issued a $54.00 target price (up from $51.00) on shares of Forward Air in a research note on Monday, October 30th. Zacks Investment Research downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. KeyCorp restated a “hold” rating on shares of Forward Air in a research note on Friday, September 22nd. Stifel Nicolaus raised their target price on shares of Forward Air from $47.00 to $52.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Finally, Robert W. Baird restated a “hold” rating and issued a $60.00 target price on shares of Forward Air in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $55.33.
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About Forward Air
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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