Nordea Investment Management AB Takes $3.44 Million Position in Forward Air Co. (NASDAQ:FWRD)

Nordea Investment Management AB acquired a new stake in shares of Forward Air Co. (NASDAQ:FWRDFree Report) during the first quarter, HoldingsChannel reports. The firm acquired 109,288 shares of the transportation company’s stock, valued at approximately $3,437,000.

A number of other institutional investors and hedge funds have also modified their holdings of FWRD. Ameriprise Financial Inc. increased its position in shares of 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 period. Walleye Capital LLC bought a new stake in shares of Forward Air during the third quarter valued at approximately $1,370,000. Graham Capital Management L.P. bought a new stake in shares of Forward Air during the third quarter valued at approximately $586,000. Anchor Investment Management LLC bought a new stake in shares of Forward Air during the fourth quarter valued at approximately $99,000. Finally, Radnor Capital Management LLC bought a new stake in shares of Forward Air during the fourth quarter valued at approximately $225,000. 97.03% of the stock is currently owned by institutional investors.

Forward Air Price Performance

Forward Air stock opened at $18.65 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market cap of $493.11 million, a P/E ratio of 5.45 and a beta of 1.00. The business’s fifty day moving average is $18.16 and its two-hundred day moving average is $31.91. Forward Air Co. has a 52 week low of $11.21 and a 52 week high of $121.38.

Forward Air (NASDAQ:FWRDGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The transportation company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.49). The business had revenue of $541.81 million during the quarter, compared to analyst estimates of $644.00 million. Forward Air had a return on equity of 5.37% and a net margin of 4.08%. During the same period in the prior year, the firm posted $1.37 EPS. Equities research analysts forecast that Forward Air Co. will post -0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FWRD has been the topic of several recent analyst reports. Robert W. Baird boosted their price target on Forward Air from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, July 3rd. StockNews.com lowered Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, March 18th. Wolfe Research raised Forward Air from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, May 28th. Finally, Benchmark reaffirmed a “hold” rating on shares of Forward Air in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Forward Air presently has an average rating of “Hold” and an average target price of $76.86.

Check Out Our Latest Report on Forward Air

About Forward Air

(Free Report)

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.

See Also

Want to see what other hedge funds are holding FWRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Forward Air Co. (NASDAQ:FWRDFree Report).

Institutional Ownership by Quarter for Forward Air (NASDAQ:FWRD)

Receive News & Ratings for Forward Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air and related companies with MarketBeat.com's FREE daily email newsletter.