Forward Air Co. (NASDAQ:FWRD) Stock Position Lowered by Metropolitan Life Insurance Co NY

Metropolitan Life Insurance Co NY lessened its position in shares of Forward Air Co. (NASDAQ:FWRD) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,745 shares of the transportation company’s stock after selling 237 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Forward Air were worth $566,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bank of Montreal Can raised its holdings in shares of Forward Air by 13.2% during the 4th quarter. Bank of Montreal Can now owns 1,781 shares of the transportation company’s stock valued at $98,000 after buying an additional 208 shares during the period. Oregon Public Employees Retirement Fund purchased a new stake in shares of Forward Air during the 4th quarter valued at about $609,000. Piedmont Investment Advisors Inc. raised its holdings in shares of Forward Air by 2.9% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 6,951 shares of the transportation company’s stock valued at $381,000 after buying an additional 199 shares during the period. First Trust Advisors LP raised its holdings in shares of Forward Air by 124.3% during the 4th quarter. First Trust Advisors LP now owns 67,413 shares of the transportation company’s stock valued at $3,698,000 after buying an additional 37,354 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Forward Air by 10.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,102 shares of the transportation company’s stock valued at $280,000 after buying an additional 497 shares during the period. Institutional investors own 95.10% of the company’s stock.

Several equities research analysts recently commented on FWRD shares. BidaskClub downgraded ZIX from a “strong-buy” rating to a “buy” rating in a report on Friday, June 7th. Deutsche Bank lifted their price objective on Rockwell Automation from $173.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Finally, Zacks Investment Research downgraded General Finance from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Forward Air presently has a consensus rating of “Hold” and an average target price of $70.00.

FWRD stock traded down $0.07 during midday trading on Friday, hitting $59.80. 141,976 shares of the company’s stock were exchanged, compared to its average volume of 154,243. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.09. Forward Air Co. has a 12-month low of $51.54 and a 12-month high of $72.81. The business has a 50 day moving average of $58.52. The firm has a market capitalization of $1.72 billion, a PE ratio of 19.17 and a beta of 1.55.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $321.47 million for the quarter, compared to the consensus estimate of $324.22 million. Forward Air had a return on equity of 16.88% and a net margin of 6.92%. Forward Air’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. On average, sell-side analysts forecast that Forward Air Co. will post 3.26 earnings per share 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 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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Institutional Ownership by Quarter for Forward Air (NASDAQ:FWRD)

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