Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,072 Shares of Forward Air Co. (NASDAQ:FWRD)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Forward Air Co. (NASDAQ:FWRD) by 24.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,415 shares of the transportation company’s stock after purchasing an additional 1,072 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Forward Air were worth $340,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FWRD. Teacher Retirement System of Texas boosted its stake in shares of Forward Air by 3.7% during the third quarter. Teacher Retirement System of Texas now owns 6,964 shares of the transportation company’s stock valued at $479,000 after purchasing an additional 251 shares in the last quarter. Equitable Trust Co. grew its stake in shares of Forward Air by 7.0% in the fourth quarter. Equitable Trust Co. now owns 4,205 shares of the transportation company’s stock worth $264,000 after purchasing an additional 276 shares during the last quarter. Synovus Financial Corp increased its holdings in Forward Air by 12.6% in the third quarter. Synovus Financial Corp now owns 4,533 shares of the transportation company’s stock valued at $312,000 after purchasing an additional 509 shares during the period. Signaturefd LLC raised its position in Forward Air by 306.9% during the 3rd quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock worth $65,000 after purchasing an additional 715 shares during the last quarter. Finally, AlphaMark Advisors LLC raised its position in shares of Forward Air by 53.7% during the fourth quarter. AlphaMark Advisors LLC now owns 3,433 shares of the transportation company’s stock worth $216,000 after acquiring an additional 1,199 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Trading Up 3.1 %

Shares of Forward Air stock opened at $21.78 on Friday. 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 company has a market capitalization of $574.34 million, a P/E ratio of 3.39 and a beta of 1.06. The stock has a fifty day simple moving average of $28.03 and a 200 day simple moving average of $48.07. Forward Air Co. has a 12-month low of $20.95 and a 12-month high of $121.38.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results 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). Forward Air had a net margin of 10.58% and a return on equity of 15.30%. The firm had revenue of $338.43 million for the quarter, compared to the consensus estimate of $406.96 million. During the same period in the previous year, the business earned $1.65 earnings per share. The firm’s revenue for the quarter was down 16.0% on a year-over-year basis. On average, sell-side analysts anticipate that Forward Air Co. will post 0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on FWRD. Benchmark restated a “hold” rating on shares of Forward Air in a report on Wednesday, April 24th. StockNews.com lowered shares of Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, March 18th. 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. Stifel Nicolaus decreased 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 note on Monday, January 22nd. Finally, Wolfe Research cut 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Forward Air has a consensus rating of “Hold” and an average target price 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.