Alliancebernstein L.P. held its stake in Forward Air Corporation (NASDAQ:FWRD) during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 44,570 shares of the transportation company’s stock at the end of the first quarter. Alliancebernstein L.P. owned approximately 0.15% of Forward Air Corporation worth $2,120,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Forward Air Corporation during the first quarter worth $114,000. TrimTabs Asset Management LLC increased its stake in shares of 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 in the last quarter. State of Alaska Department of Revenue increased its stake in shares of 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 in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Forward Air Corporation during the first quarter worth $206,000. Finally, Dubuque Bank & Trust Co. acquired a new stake in shares of Forward Air Corporation during the first quarter worth $238,000. 98.15% of the stock is owned by institutional investors.
Shares of Forward Air Corporation (NASDAQ FWRD) opened at 54.36 on Tuesday. The company has a market cap of $1.64 billion, a P/E ratio of 58.08 and a beta of 1.07. The company’s 50 day moving average is $52.17 and its 200-day moving average is $49.60. Forward Air Corporation has a 12 month low of $40.07 and a 12 month high of $56.52.
Forward Air Corporation (NASDAQ:FWRD) last announced its quarterly earnings data on Wednesday, April 26th. The transportation company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Forward Air Corporation had a net margin of 2.88% and a return on equity of 13.06%. The company had revenue of $246.98 million during the quarter, compared to analysts’ expectations of $239.47 million. During the same quarter in the prior year, the company posted $0.43 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Analysts expect that Forward Air Corporation will post $2.33 EPS for the current fiscal year.
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A number of brokerages recently weighed in on FWRD. Stifel Nicolaus boosted their price objective on shares of Forward Air Corporation from $46.00 to $47.00 and gave the company a “hold” rating in a research report on Friday, April 28th. BidaskClub downgraded shares of Forward Air Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, Zacks Investment Research raised shares of Forward Air Corporation from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Tuesday, May 16th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Forward Air Corporation currently has a consensus rating of “Hold” and an average target price of $49.75.
In other news, VP Michael L. Hance sold 6,666 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $51.30, for a total value of $341,965.80. Following the completion of the transaction, the vice president now owns 25,461 shares in the company, valued at approximately $1,306,149.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Michael P. Mclean sold 3,333 shares of the stock in a transaction on Friday, May 12th. The shares were sold at an average price of $50.33, for a total transaction of $167,749.89. Following the completion of the transaction, the chief accounting officer now owns 21,718 shares of the company’s stock, valued at approximately $1,093,066.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,984 shares of company stock valued at $4,008,360. Corporate insiders own 2.40% of the company’s stock.
Forward Air Corporation Company Profile
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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