Point72 DIFC Ltd Purchases Shares of 1,386 Forward Air Co. (NASDAQ:FWRD)

Point72 DIFC Ltd acquired a new position in Forward Air Co. (NASDAQ:FWRD) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 1,386 shares of the transportation company’s stock, valued at approximately $26,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FWRD. Nordea Investment Management AB acquired a new position in Forward Air in the 1st quarter worth approximately $3,437,000. Schroder Investment Management Group increased its stake in shares of Forward Air by 23.4% in the fourth quarter. Schroder Investment Management Group now owns 410,664 shares of the transportation company’s stock worth $25,818,000 after acquiring an additional 77,909 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Forward Air by 244.3% during the first quarter. BNP Paribas Financial Markets now owns 95,963 shares of the transportation company’s stock worth $2,985,000 after purchasing an additional 68,093 shares during the last quarter. Principal Financial Group Inc. lifted its position in Forward Air by 37.8% during the first quarter. Principal Financial Group Inc. now owns 194,512 shares of the transportation company’s stock valued at $6,051,000 after purchasing an additional 53,310 shares during the period. Finally, Boston Trust Walden Corp purchased a new stake in Forward Air in the second quarter valued at $611,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FWRD. Benchmark reissued a “hold” rating on shares of Forward Air in a report on Monday, August 12th. Robert W. Baird boosted their price target on Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.00.

Forward Air Price Performance

NASDAQ:FWRD opened at $34.07 on Friday. The stock has a market capitalization of $900.74 million, a PE ratio of 10.32 and a beta of 1.02. Forward Air Co. has a 52 week low of $11.21 and a 52 week high of $79.51. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 4.70. The stock’s 50-day moving average price is $30.78 and its 200-day moving average price is $24.90.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported ($23.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($23.11). Forward Air had a negative net margin of 30.77% and a negative return on equity of 79.11%. The business had revenue of $643.67 million during the quarter, compared to analysts’ expectations of $642.92 million. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up 92.9% compared to the same quarter last year. As a group, equities analysts expect that Forward Air Co. will post -1.01 EPS for the current fiscal 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.