Quantbot Technologies LP Acquires 16,659 Shares of Forward Air Corporation $FWRD

Key Points

• Quantbot Technologies LP increased its stake in Forward Air by 43.7%, now holding 54,773 shares valued at approximately $1.1 million.
• Forward Air reported a quarterly loss of ($0.41) earnings per share, falling short of analysts' expectations and showing a 3.9% revenue decline year-over-year.
• Multiple research firms have recently upgraded their price targets for Forward Air, with Susquehanna raising it from $40 to $43, reflecting a generally positive outlook on the company.

Quantbot Technologies LP boosted its holdings in Forward Air Corporation (NASDAQ:FWRD - Free Report) by 43.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,773 shares of the transportation company's stock after buying an additional 16,659 shares during the quarter. Quantbot Technologies LP owned approximately 0.18% of Forward Air worth $1,100,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sterling Capital Management LLC boosted its stake in shares of Forward Air by 812.5% during the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company's stock valued at $26,000 after purchasing an additional 715 shares in the last quarter. Byrne Asset Management LLC boosted its stake in shares of Forward Air by 81.3% during the first quarter. Byrne Asset Management LLC now owns 1,940 shares of the transportation company's stock valued at $39,000 after purchasing an additional 870 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Forward Air during the fourth quarter valued at about $72,000. Aquatic Capital Management LLC acquired a new stake in shares of Forward Air during the fourth quarter valued at about $138,000. Finally, Fox Run Management L.L.C. boosted its stake in shares of Forward Air by 18.1% during the first quarter. Fox Run Management L.L.C. now owns 10,980 shares of the transportation company's stock valued at $221,000 after purchasing an additional 1,684 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Susquehanna lifted their price target on Forward Air from $40.00 to $43.00 and gave the company a "positive" rating in a research note on Tuesday, August 12th. Wall Street Zen raised Forward Air from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Stifel Nicolaus lifted their price objective 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, Forward Air presently has an average rating of "Moderate Buy" and a consensus target price of $37.75.

Forward Air Trading Up 6.1%

FWRD stock traded up $1.83 during mid-day trading on Wednesday, reaching $31.76. The company's stock had a trading volume of 634,024 shares, compared to its average volume of 659,525. The company has a market cap of $977.89 million, a price-to-earnings ratio of -5.30 and a beta of 1.43. The business's 50 day moving average price is $27.74 and its 200 day moving average price is $22.37. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 7.91. 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 issued its 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 during the quarter, compared to the consensus estimate of $627.98 million. Forward Air had a negative return on equity of 40.36% and a negative net margin of 6.86%.The company's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($23.29) earnings per share. On average, equities research analysts predict that Forward Air Corporation will post -0.72 EPS 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.