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

Headlands Technologies LLC bought a new stake in Forward Air Co. (NASDAQ:FWRD) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 823 shares of the transportation company’s stock, valued at approximately $52,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of Forward Air by 86.9% in the 3rd quarter. CWM LLC now owns 669 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 311 shares during the last quarter. Signaturefd LLC boosted its holdings in Forward Air by 306.9% in the third quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock valued at $65,000 after acquiring an additional 715 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in Forward Air during the fourth quarter valued at about $99,000. AlphaMark Advisors LLC acquired a new stake in Forward Air during the third quarter worth about $154,000. Finally, Fox Run Management L.L.C. acquired a new stake in Forward Air during the third quarter worth about $207,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Price Performance

FWRD opened at $21.05 on Thursday. Forward Air Co. has a twelve month low of $20.99 and a twelve month high of $121.38. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 2.38. The firm has a market cap of $555.09 million, a price-to-earnings ratio of 3.28 and a beta of 0.98. The company has a fifty day simple moving average of $29.13 and a 200 day simple moving average of $49.02.

Forward Air (NASDAQ:FWRD) last announced its earnings results on Thursday, February 29th. The transportation company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.16). Forward Air had a net margin of 10.58% and a return on equity of 15.30%. The business had revenue of $338.43 million for the quarter, compared to analyst estimates of $406.96 million. During the same quarter in the prior year, the business earned $1.65 earnings per share. The firm’s revenue was down 16.0% on a year-over-year basis. Equities research analysts expect that Forward Air Co. will post 0.56 EPS for the current fiscal year.

Analyst Ratings Changes

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

Forward Air 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.