Insider Selling: Forward Air Co. (FWRD) VP Sells 14,397 Shares of Stock
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.
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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