Forward Air Corporation (FWRD) Insider Sells $1,329,405.00 in Stock
Forward Air Corporation (NASDAQ:FWRD) insider Chris C. Ruble sold 23,020 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $57.75, for a total transaction of $1,329,405.00. Following the sale, the insider now directly owns 28,279 shares of the company’s stock, valued at approximately $1,633,112.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Forward Air Corporation (NASDAQ:FWRD) traded down $0.45 during trading on Monday, hitting $57.87. 137,600 shares of the stock were exchanged, compared to its average volume of 128,950. Forward Air Corporation has a 12 month low of $45.86 and a 12 month high of $59.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.71. The company has a market cap of $1,722.92, a P/E ratio of 25.27 and a beta of 1.18.
Forward Air (NASDAQ:FWRD) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.58 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. The business had revenue of $280.20 million during the quarter, compared to the consensus estimate of $278.75 million. Forward Air had a net margin of 6.10% and a return on equity of 13.76%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS. equities analysts predict that Forward Air Corporation will post 2.33 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Thursday, November 23rd were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Tuesday, November 21st. Forward Air’s payout ratio is 28.17%.
A number of brokerages have recently weighed in on FWRD. BidaskClub raised shares of Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Cowen reaffirmed a “market perform” rating and set a $54.00 price target (up previously from $51.00) on shares of Forward Air in a report on Monday, October 30th. Zacks Investment Research downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Stifel Nicolaus upped their price target on shares of Forward Air from $47.00 to $52.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $60.00 price target on shares of Forward Air in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $55.33.
Large investors have recently modified their holdings of the stock. US Bancorp DE lifted its stake in Forward Air by 22.6% in the 2nd quarter. US Bancorp DE now owns 2,411 shares of the transportation company’s stock valued at $129,000 after purchasing an additional 445 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Forward Air by 53.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,231 shares of the transportation company’s stock valued at $545,000 after purchasing an additional 3,557 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in Forward Air by 10.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 131,353 shares of the transportation company’s stock valued at $6,998,000 after purchasing an additional 12,919 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Forward Air by 53.9% in the 1st quarter. Renaissance Technologies LLC now owns 62,239 shares of the transportation company’s stock valued at $2,961,000 after purchasing an additional 21,800 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Forward Air by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,694,979 shares of the transportation company’s stock valued at $143,589,000 after purchasing an additional 16,137 shares during the last quarter. 95.88% of the stock is owned by institutional investors and hedge funds.
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Forward Air Company Profile
Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.
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