Forward Air Co. (NASDAQ:FWRD) Chairman Bruce A. Campbell sold 8,627 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $65.57, for a total transaction of $565,672.39. Following the completion of the transaction, the chairman now directly owns 137,866 shares in the company, valued at $9,039,873.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
NASDAQ:FWRD opened at $65.53 on Friday. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.92 billion, a PE ratio of 24.56 and a beta of 1.42. Forward Air Co. has a twelve month low of $49.88 and a twelve month high of $67.50.
Forward Air (NASDAQ:FWRD) last posted its quarterly earnings results on Wednesday, July 25th. The transportation company reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.07. Forward Air had a net margin of 7.84% and a return on equity of 15.16%. The firm had revenue of $330.30 million for the quarter, compared to the consensus estimate of $314.08 million. During the same period last year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. research analysts anticipate that Forward Air Co. will post 3.12 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Thursday, August 23rd were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Wednesday, August 22nd. Forward Air’s dividend payout ratio (DPR) is presently 25.42%.
A number of hedge funds have recently modified their holdings of FWRD. Alps Advisors Inc. purchased a new position in Forward Air during the first quarter worth about $455,000. Comerica Bank raised its stake in Forward Air by 20.7% during the first quarter. Comerica Bank now owns 60,802 shares of the transportation company’s stock worth $3,306,000 after purchasing an additional 10,422 shares during the period. SG Americas Securities LLC raised its stake in Forward Air by 11.9% during the first quarter. SG Americas Securities LLC now owns 11,537 shares of the transportation company’s stock worth $610,000 after purchasing an additional 1,231 shares during the period. American Century Companies Inc. purchased a new position in Forward Air during the first quarter worth about $1,134,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in Forward Air during the first quarter worth about $758,000. 94.98% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on FWRD shares. ValuEngine raised shares of Forward Air from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Deutsche Bank started coverage on shares of Forward Air in a research note on Tuesday. They issued a “buy” rating and a $72.00 price target on the stock. Zacks Investment Research raised shares of Forward Air from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Tuesday, June 19th. BidaskClub downgraded shares of Forward Air from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. Finally, Stifel Nicolaus raised their price target on shares of Forward Air from $64.00 to $68.00 and gave the stock a “hold” rating in a research note on Thursday, July 26th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Forward Air currently has a consensus rating of “Buy” and an average price target of $65.17.
About Forward Air
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-than-truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).
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