Nisa Investment Advisors LLC Cuts Holdings in Forward Air Co. (NASDAQ:FWRD)

Nisa Investment Advisors LLC reduced its position in Forward Air Co. (NASDAQ:FWRD) by 57.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 690 shares of the transportation company’s stock after selling 925 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Forward Air were worth $43,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in shares of Forward Air in the 1st quarter worth $45,000. CWM LLC raised its position in shares of Forward Air by 86.9% in the 3rd quarter. CWM LLC now owns 669 shares of the transportation company’s stock worth $46,000 after buying an additional 311 shares during the period. Signaturefd LLC raised its position in shares of Forward Air by 306.9% in the 3rd quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock worth $65,000 after buying an additional 715 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of Forward Air by 39.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the transportation company’s stock worth $68,000 after buying an additional 185 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Forward Air by 137.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 761 shares of the transportation company’s stock worth $82,000 after buying an additional 441 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FWRD. Robert W. Baird cut their target price on Forward Air from $50.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, March 1st. 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. StockNews.com downgraded Forward Air from a “hold” rating to a “sell” rating in a report on Monday, March 18th. Wolfe Research downgraded Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a report on Wednesday, January 10th. Finally, Benchmark reiterated a “hold” rating on shares of Forward Air in a report on Thursday. Two 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $80.14.

Forward Air Stock Up 4.5 %

Shares of Forward Air stock opened at $23.78 on Monday. The business has a 50-day moving average of $31.61 and a 200-day moving average of $51.44. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market capitalization of $627.08 million, a PE ratio of 3.70 and a beta of 0.98. Forward Air Co. has a 1-year low of $22.08 and a 1-year high of $121.38.

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). The business had revenue of $338.43 million for the quarter, compared to analyst estimates of $406.96 million. Forward Air had a net margin of 10.58% and a return on equity of 15.30%. The firm’s revenue was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.65 earnings per share. As a group, equities analysts forecast that Forward Air Co. will post 0.56 EPS for the current fiscal year.

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.