New York State Teachers Retirement System Sells 4,698 Shares of Forward Air Co. (NASDAQ:FWRD)

New York State Teachers Retirement System trimmed its stake in shares of Forward Air Co. (NASDAQ:FWRD) by 9.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,707 shares of the transportation company’s stock after selling 4,698 shares during the period. New York State Teachers Retirement System owned 0.17% of Forward Air worth $2,811,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC bought a new stake in shares of Forward Air in the third quarter worth about $17,743,000. Jacobs Levy Equity Management Inc. bought a new stake in Forward Air in the third quarter worth $27,870,000. UBS Group AG increased its position in Forward Air by 809.8% in the third quarter. UBS Group AG now owns 683,566 shares of the transportation company’s stock worth $46,988,000 after purchasing an additional 608,430 shares during the last quarter. Jump Financial LLC purchased a new stake in Forward Air during the third quarter valued at $1,895,000. Finally, Ameriprise Financial Inc. lifted its position in Forward Air by 7.3% during the third quarter. Ameriprise Financial Inc. now owns 673,369 shares of the transportation company’s stock valued at $46,287,000 after purchasing an additional 45,912 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Forward Air Stock Down 4.1 %

FWRD opened at $24.52 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 2.38. Forward Air Co. has a twelve month low of $24.49 and a twelve month high of $121.38. The company has a market cap of $646.59 million, a PE ratio of 3.82 and a beta of 0.98. The company has a 50-day moving average price of $33.16 and a 200 day moving average price of $52.73.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Thursday, February 29th. The transportation company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.16). The company had revenue of $338.43 million for the quarter, compared to analysts’ expectations of $406.96 million. Forward Air had a return on equity of 15.30% and a net margin of 10.58%. The business’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 EPS. Sell-side analysts expect that Forward Air Co. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FWRD shares. Benchmark restated a “hold” rating on shares of Forward Air in a research report on Wednesday, April 3rd. Wolfe Research lowered Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research note on Wednesday, January 10th. Robert W. Baird cut their target price on Forward Air from $50.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, March 1st. StockNews.com downgraded Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Finally, Stifel Nicolaus cut their price objective on shares of Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Forward Air has a consensus rating of “Hold” and a consensus price target of $80.14.

Forward Air Company Profile

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.