EntryPoint Capital LLC Boosts Stock Holdings in Forward Air Co. (NASDAQ:FWRD)

EntryPoint Capital LLC boosted its position in shares of Forward Air Co. (NASDAQ:FWRD) by 36.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,220 shares of the transportation company’s stock after buying an additional 856 shares during the period. EntryPoint Capital LLC’s holdings in Forward Air were worth $100,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FWRD. Private Management Group Inc. purchased a new stake in Forward Air during the 1st quarter worth approximately $31,007,000. Ridgemont Partners Management LLC purchased a new stake in Forward Air during the 1st quarter worth approximately $21,796,000. Norges Bank purchased a new stake in Forward Air during the 4th quarter worth approximately $43,281,000. Vanguard Group Inc. increased its stake in Forward Air by 14.2% during the 1st quarter. Vanguard Group Inc. now owns 3,407,797 shares of the transportation company’s stock worth $106,017,000 after buying an additional 424,924 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Forward Air during the 1st quarter worth approximately $5,895,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Benchmark reiterated a “hold” rating on shares of Forward Air in a research note on Wednesday, April 24th. Robert W. Baird upped their price target on Forward Air from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Finally, Wolfe Research upgraded Forward Air from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Forward Air presently has an average rating of “Hold” and a consensus price target of $76.86.

Forward Air Trading Down 6.0 %

Shares of Forward Air stock opened at $26.00 on Friday. The firm has a market capitalization of $687.44 million, a price-to-earnings ratio of 7.60 and a beta of 1.00. Forward Air Co. has a fifty-two week low of $11.21 and a fifty-two week high of $121.38. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a 50 day moving average of $19.60 and a 200 day moving average of $29.09.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings data on Wednesday, May 8th. The transportation company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.49). The business had revenue of $541.81 million during the quarter, compared to analysts’ expectations of $644.00 million. Forward Air had a return on equity of 5.37% and a net margin of 4.08%. During the same quarter in the previous year, the company posted $1.37 earnings per share. As a group, research analysts predict that Forward Air Co. will post -0.46 earnings per share for the current year.

About Forward Air

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.