Forward Air Corporation $FWRD Stake Raised by American Century Companies Inc.

Key Points

• American Century Companies Inc. significantly increased its holdings in Forward Air Corporation by 188.2% during the first quarter, now owning approximately 0.09% of the company valued at $570,000.
• Forward Air's stock has been rated with a consensus of "Moderate Buy," and has seen recent upgrades from analysts, including a price target increase by Susquehanna from $40.00 to $43.00.
• The company reported a substantial earnings miss, with an EPS of ($0.41) compared to the consensus estimate of ($0.17), and revenue down 3.9% from the same quarter last year.

American Century Companies Inc. increased its position in Forward Air Corporation (NASDAQ:FWRD - Free Report) by 188.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,349 shares of the transportation company's stock after buying an additional 18,511 shares during the quarter. American Century Companies Inc. owned about 0.09% of Forward Air worth $570,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Forward Air by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,251 shares of the transportation company's stock worth $460,000 after purchasing an additional 498 shares in the last quarter. Quantinno Capital Management LP grew its stake in Forward Air by 9.7% in the fourth quarter. Quantinno Capital Management LP now owns 6,949 shares of the transportation company's stock worth $224,000 after purchasing an additional 615 shares in the last quarter. Byrne Asset Management LLC grew its stake in Forward Air by 81.3% in the first quarter. Byrne Asset Management LLC now owns 1,940 shares of the transportation company's stock worth $39,000 after purchasing an additional 870 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Forward Air by 7.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,950 shares of the transportation company's stock worth $741,000 after purchasing an additional 1,524 shares in the last quarter. Finally, Fox Run Management L.L.C. grew its stake in Forward Air by 18.1% in the first quarter. Fox Run Management L.L.C. now owns 10,980 shares of the transportation company's stock worth $221,000 after purchasing an additional 1,684 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FWRD shares. Wall Street Zen upgraded Forward Air from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Susquehanna lifted their price target on Forward Air from $40.00 to $43.00 and gave the stock a "positive" rating in a research note on Tuesday, August 12th. Finally, Stifel Nicolaus lifted their price target on Forward Air from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.75.

Forward Air Stock Performance

Shares of FWRD traded down $0.08 during mid-day trading on Monday, reaching $29.66. 336,221 shares of the company's stock traded hands, compared to its average volume of 587,637. The business's 50-day moving average price is $29.02 and its 200-day moving average price is $22.28. The stock has a market capitalization of $913.23 million, a P/E ratio of -4.95 and a beta of 1.40. The company has a debt-to-equity ratio of 7.91, a quick ratio of 1.20 and a current ratio of 1.20. Forward Air Corporation has a 12 month low of $9.78 and a 12 month high of $40.92.

Forward Air (NASDAQ:FWRD - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The transportation company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.24). The business had revenue of $618.84 million for the quarter, compared to the consensus estimate of $627.98 million. Forward Air had a negative net margin of 6.86% and a negative return on equity of 40.36%. The business's quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the firm posted ($23.29) EPS. Equities analysts predict that Forward Air Corporation will post -0.72 earnings per share for the current year.

Forward Air Company Profile

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.