Duality Advisers LP Has $2.46 Million Stake in Forward Air Co. (NASDAQ:FWRD)

Duality Advisers LP boosted its stake in shares of Forward Air Co. (NASDAQ:FWRD) by 28.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 39,047 shares of the transportation company’s stock after purchasing an additional 8,635 shares during the quarter. Duality Advisers LP’s holdings in Forward Air were worth $2,455,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CWM LLC grew its position in Forward Air by 86.9% during the 3rd quarter. CWM LLC now owns 669 shares of the transportation company’s stock worth $46,000 after acquiring an additional 311 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Forward Air by 306.9% during the third 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. Anchor Investment Management LLC acquired a new stake in shares of Forward Air in the fourth quarter valued at $99,000. AlphaMark Advisors LLC bought a new position in shares of Forward Air in the third quarter valued at about $154,000. Finally, Fox Run Management L.L.C. acquired a new position in Forward Air during the 3rd quarter worth about $207,000. 97.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of Forward Air from a “hold” rating to a “sell” rating in a research report 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. Stifel Nicolaus decreased their price objective on Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a research report on Monday, January 22nd. Robert W. Baird cut 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. Finally, Benchmark reiterated a “hold” rating on shares of Forward Air in a research report on Thursday. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $80.14.

Forward Air Trading Down 1.1 %

NASDAQ FWRD traded down $0.26 on Monday, reaching $23.52. The company had a trading volume of 179,165 shares, compared to its average volume of 928,268. Forward Air Co. has a 52 week low of $22.08 and a 52 week high of $121.38. The stock’s 50 day moving average is $31.61 and its 200-day moving average is $51.44. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 2.38. The stock has a market cap of $620.22 million, a price-to-earnings ratio of 3.70 and a beta of 0.98.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Thursday, February 29th. The transportation company reported $0.81 EPS 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 company had revenue of $338.43 million during the quarter, compared to the consensus estimate of $406.96 million. During the same period last year, the company earned $1.65 earnings per share. The business’s revenue was down 16.0% compared to the same quarter last year. Equities analysts predict that Forward Air Co. will post 0.56 earnings per share for the current year.

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.