Forward Air Corporation $FWRD Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its position in Forward Air Corporation (NASDAQ:FWRD) by 236.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 48,812 shares of the transportation company’s stock after acquiring an additional 34,303 shares during the quarter. SG Americas Securities LLC’s holdings in Forward Air were worth $1,220,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FWRD. Royal Bank of Canada boosted its position in Forward Air by 1,179.7% during the first quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company’s stock worth $6,451,000 after purchasing an additional 296,001 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Forward Air by 7.0% in the 1st quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock worth $201,000 after purchasing an additional 654 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Forward Air by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock worth $299,000 after purchasing an additional 624 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Forward Air by 64.2% in the 1st quarter. Intech Investment Management LLC now owns 73,040 shares of the transportation company’s stock worth $1,467,000 after purchasing an additional 28,564 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Forward Air by 8.2% in the 2nd quarter. Legal & General Group Plc now owns 58,385 shares of the transportation company’s stock worth $1,433,000 after purchasing an additional 4,436 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FWRD. Stifel Nicolaus raised their price target on Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a research report on Thursday, January 22nd. Susquehanna restated a “positive” rating and issued a $42.00 target price on shares of Forward Air in a research report on Tuesday, February 24th. Finally, Zacks Research cut Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.00.

Forward Air Stock Up 0.5%

FWRD opened at $17.47 on Wednesday. Forward Air Corporation has a 12 month low of $9.78 and a 12 month high of $32.47. The company has a debt-to-equity ratio of 10.58, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market cap of $551.18 million, a P/E ratio of -4.96 and a beta of 1.46. The stock’s 50 day moving average price is $22.68 and its 200 day moving average price is $23.45.

Forward Air (NASDAQ:FWRD) last posted its earnings results on Monday, February 23rd. The transportation company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Forward Air had a negative net margin of 4.32% and a negative return on equity of 42.67%. The business had revenue of $631.23 million during the quarter, compared to analyst estimates of $629.60 million. During the same quarter in the prior year, the business earned ($1.23) earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Forward Air Corporation will post -0.72 earnings per share for the current year.

About Forward Air

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.