Forward Air Co. (NASDAQ:FWRD) VP Glenn A. Adelaar sold 14,397 shares of the business’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $62.26, for a total value of $896,357.22. Following the completion of the transaction, the vice president now owns 41,852 shares in the company, valued at approximately $2,605,705.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shares of FWRD opened at $63.35 on Friday. Forward Air Co. has a twelve month low of $49.88 and a twelve month high of $64.99. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 26.85 and a beta of 1.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.78 and a current ratio of 2.78.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Wednesday, July 25th. The transportation company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.07. Forward Air had a return on equity of 15.16% and a net margin of 7.84%. The company had revenue of $330.30 million for the quarter, compared to analyst estimates of $314.08 million. During the same quarter in the previous year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. analysts expect that Forward Air Co. will post 3.1 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Shareholders of record on Thursday, August 23rd will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Wednesday, August 22nd. Forward Air’s dividend payout ratio is presently 25.42%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. boosted its holdings in Forward Air by 1,075.0% in the 1st quarter. Sei Investments Co. now owns 2,256 shares of the transportation company’s stock valued at $119,000 after purchasing an additional 2,064 shares in the last quarter. Advisor Group Inc. boosted its holdings in Forward Air by 138.7% in the 4th quarter. Advisor Group Inc. now owns 2,626 shares of the transportation company’s stock valued at $151,000 after purchasing an additional 1,526 shares in the last quarter. Royal Bank of Canada boosted its holdings in Forward Air by 281.0% in the 1st quarter. Royal Bank of Canada now owns 2,995 shares of the transportation company’s stock valued at $159,000 after purchasing an additional 2,209 shares in the last quarter. Bruderman Asset Management LLC purchased a new stake in Forward Air in the 1st quarter valued at approximately $166,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in Forward Air in the 4th quarter valued at approximately $261,000. 96.01% of the stock is currently owned by institutional investors.

Several equities analysts recently issued reports on FWRD shares. Zacks Investment Research upgraded Forward Air from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, June 19th. Stifel Nicolaus upgraded Forward Air from a “hold” rating to a “buy” rating and boosted their price target for the company from $62.00 to $64.00 in a research report on Thursday, April 26th. ValuEngine cut Forward Air from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Stephens set a $70.00 price target on Forward Air and gave the company a “buy” rating in a research report on Friday, July 27th. Finally, BidaskClub upgraded Forward Air from a “sell” rating to a “hold” rating in a research report on Friday, May 18th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $63.80.

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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