3,700 Shares in Forward Air Co. (NASDAQ:FWRD) Bought by Bailard Inc.

Bailard Inc. purchased a new stake in Forward Air Co. (NASDAQ:FWRD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,700 shares of the transportation company’s stock, valued at approximately $233,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC grew its holdings in Forward Air by 86.9% during the 3rd quarter. CWM LLC now owns 669 shares of the transportation company’s stock worth $46,000 after acquiring an additional 311 shares during the period. Handelsbanken Fonder AB increased its holdings in Forward Air by 31.9% in the third quarter. Handelsbanken Fonder AB now owns 6,247 shares of the transportation company’s stock worth $429,000 after purchasing an additional 1,510 shares in the last quarter. Ceredex Value Advisors LLC lifted its stake in Forward Air by 49.8% in the third quarter. Ceredex Value Advisors LLC now owns 178,250 shares of the transportation company’s stock valued at $12,253,000 after buying an additional 59,225 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Forward Air by 15.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the transportation company’s stock worth $299,000 after buying an additional 588 shares in the last quarter. Finally, Strs Ohio boosted its holdings in shares of Forward Air by 1,700.0% during the 3rd quarter. Strs Ohio now owns 12,600 shares of the transportation company’s stock worth $866,000 after buying an additional 11,900 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Stock Up 1.1 %

Shares of NASDAQ:FWRD opened at $22.52 on Tuesday. The business’s 50 day moving average is $29.84 and its 200 day moving average is $49.72. Forward Air Co. has a 12-month low of $21.70 and a 12-month high of $121.38. The stock has a market cap of $593.85 million, a price-to-earnings ratio of 3.51 and a beta of 0.98. 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 (NASDAQ:FWRD) last posted its quarterly earnings data on Thursday, February 29th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.16). The firm 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%. Forward Air’s revenue was down 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 earnings per share. On average, sell-side analysts forecast that Forward Air Co. will post 0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, March 18th. Wolfe Research lowered shares of Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective on the stock. in a report on Wednesday, January 10th. Stifel Nicolaus reduced their target price on Forward Air from $80.00 to $55.00 and set a “hold” rating for the company in a research note on Monday, January 22nd. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a research note on Wednesday, April 24th. Finally, Robert W. Baird cut their price target on Forward Air from $50.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $80.14.

About Forward Air

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.