Headlands Technologies LLC Invests $52,000 in Forward Air Co. (NASDAQ:FWRD)

Headlands Technologies LLC purchased a new stake in shares of Forward Air Co. (NASDAQ:FWRD) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 823 shares of the transportation company’s stock, valued at approximately $52,000.

A number of other hedge funds have also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC acquired a new position in Forward Air in the 3rd quarter valued at about $17,743,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Forward Air during the 3rd quarter valued at approximately $27,870,000. UBS Group AG raised its position in shares of Forward Air by 809.8% during the 3rd quarter. UBS Group AG now owns 683,566 shares of the transportation company’s stock valued at $46,988,000 after buying an additional 608,430 shares during the period. Jump Financial LLC acquired a new position in Forward Air in the third quarter valued at approximately $1,895,000. Finally, Ameriprise Financial Inc. grew its position in Forward Air by 7.3% in the third quarter. Ameriprise Financial Inc. now owns 673,369 shares of the transportation company’s stock worth $46,287,000 after acquiring an additional 45,912 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Trading Down 4.4 %

Shares of FWRD stock opened at $21.05 on Thursday. The stock has a market capitalization of $555.09 million, a P/E ratio of 3.28 and a beta of 0.98. Forward Air Co. has a fifty-two week low of $20.99 and a fifty-two week high of $121.38. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.46 and a current ratio of 1.46. The company has a 50 day moving average price of $29.13 and a 200 day moving average price of $49.02.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Thursday, February 29th. The transportation company reported $0.81 earnings per share 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 firm’s revenue was down 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.65 EPS. Equities research analysts predict that Forward Air Co. will post 0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

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