Nuveen LLC Acquires New Holdings in Forward Air Corporation $FWRD

Key Points

• Nuveen LLC has acquired a new stake in Forward Air Corporation, purchasing 91,713 shares valued at approximately $1.84 million, which represents 0.30% ownership in the company.
• Forward Air's stock recently saw a 1.2% decline, with a current trading price around $30.03 and a market capitalization of $924.62 million.
• The company reported a quarterly loss of ($0.41) EPS, falling short of analyst expectations, with revenue of $618.84 million, down 3.9% from the previous year.

Nuveen LLC acquired a new stake in shares of Forward Air Corporation (NASDAQ:FWRD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 91,713 shares of the transportation company's stock, valued at approximately $1,843,000. Nuveen LLC owned 0.30% of Forward Air as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Forward Air by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,251 shares of the transportation company's stock valued at $460,000 after acquiring an additional 498 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Forward Air by 9.7% during the fourth quarter. Quantinno Capital Management LP now owns 6,949 shares of the transportation company's stock valued at $224,000 after acquiring an additional 615 shares during the period. Byrne Asset Management LLC lifted its holdings 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 acquiring an additional 870 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Forward Air by 7.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,950 shares of the transportation company's stock valued at $741,000 after acquiring an additional 1,524 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Forward Air by 4.9% during the first quarter. Swiss National Bank now owns 42,900 shares of the transportation company's stock valued at $862,000 after acquiring an additional 2,000 shares during the period. 97.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Forward Air Trading Up 1.3%

NASDAQ:FWRD traded up $0.39 on Thursday, hitting $30.38. 237,382 shares of the stock were exchanged, compared to its average volume of 612,270. The stock has a market capitalization of $935.40 million, a price-to-earnings ratio of -5.07 and a beta of 1.40. Forward Air Corporation has a 52 week low of $9.78 and a 52 week high of $40.92. The company has a debt-to-equity ratio of 7.91, a quick ratio of 1.20 and a current ratio of 1.20. The company's 50-day moving average price is $28.83 and its 200 day moving average price is $22.40.

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

Forward Air 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.