Logan Capital Management Inc. Sells 828 Shares of Forward Air Co. (NASDAQ:FWRD)

Logan Capital Management Inc. cut its stake in Forward Air Co. (NASDAQ:FWRDFree Report) by 6.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,809 shares of the transportation company’s stock after selling 828 shares during the period. Logan Capital Management Inc.’s holdings in Forward Air were worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Forward Air during the fourth quarter worth $52,000. TFO Wealth Partners LLC boosted its position in shares of Forward Air by 116,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock valued at $73,000 after acquiring an additional 1,162 shares in the last quarter. Anchor Investment Management LLC bought a new stake in Forward Air in the fourth quarter valued at about $99,000. AlphaMark Advisors LLC raised its position in Forward Air by 53.7% in the fourth quarter. AlphaMark Advisors LLC now owns 3,433 shares of the transportation company’s stock worth $216,000 after purchasing an additional 1,199 shares in the last quarter. Finally, Radnor Capital Management LLC bought a new position in Forward Air during the fourth quarter worth about $225,000. Institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FWRD shares. Robert W. Baird dropped their target price on Forward Air from $24.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Wolfe Research raised Forward Air from an “underperform” rating to a “peer perform” rating in a report on Tuesday, May 28th. StockNews.com downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, March 18th. Finally, Benchmark reiterated a “hold” rating on shares of Forward Air in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $76.43.

View Our Latest Stock Analysis on Forward Air

Forward Air Stock Up 5.0 %

Shares of NASDAQ:FWRD opened at $21.71 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.27. The firm has a market cap of $574.01 million, a P/E ratio of 6.35 and a beta of 0.99. Forward Air Co. has a 12 month low of $11.21 and a 12 month high of $121.38. The company’s 50-day moving average price is $20.57 and its two-hundred day moving average price is $38.79.

Forward Air (NASDAQ:FWRDGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The transportation company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.49). Forward Air had a net margin of 4.08% and a return on equity of 5.37%. The company had revenue of $541.81 million for the quarter, compared to the consensus estimate of $644.00 million. During the same period last year, the company earned $1.37 earnings per share. As a group, research analysts forecast that Forward Air Co. will post -0.46 EPS for the current fiscal year.

Forward Air Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Forward Air (NASDAQ:FWRD)

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