Ceredex Value Advisors LLC Sells 58,549 Shares of Forward Air Co. (NASDAQ:FWRD)

Ceredex Value Advisors LLC lessened its holdings in Forward Air Co. (NASDAQ:FWRD - Free Report) by 32.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,701 shares of the transportation company's stock after selling 58,549 shares during the quarter. Ceredex Value Advisors LLC owned 0.47% of Forward Air worth $7,526,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cim Investment Management Inc. boosted its stake in shares of Forward Air by 3.6% in the first quarter. Cim Investment Management Inc. now owns 3,541 shares of the transportation company's stock valued at $382,000 after buying an additional 122 shares in the last quarter. Gotham Asset Management LLC grew its stake in shares of Forward Air by 1.5% during the 1st quarter. Gotham Asset Management LLC now owns 9,202 shares of the transportation company's stock worth $992,000 after purchasing an additional 134 shares during the period. Guggenheim Capital LLC grew its stake in shares of Forward Air by 7.1% during the 2nd quarter. Guggenheim Capital LLC now owns 2,428 shares of the transportation company's stock worth $258,000 after purchasing an additional 161 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of Forward Air by 39.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the transportation company's stock valued at $68,000 after purchasing an additional 185 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Forward Air by 3.9% in the first quarter. US Bancorp DE now owns 5,053 shares of the transportation company's stock valued at $495,000 after purchasing an additional 192 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Forward Air from $80.00 to $55.00 and set a "hold" rating for the company in a report on Monday, January 22nd. Benchmark reiterated a "hold" rating on shares of Forward Air in a research report on Wednesday, April 3rd. StockNews.com cut Forward Air from a "hold" rating to a "sell" rating in a research report on Monday, March 18th. Wolfe Research lowered shares of Forward Air from a "peer perform" rating to an "underperform" rating and set a $50.00 price objective on the stock. in a research report on Wednesday, January 10th. Finally, Robert W. Baird dropped their target price on shares of Forward Air from $50.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $80.14.

Forward Air Price Performance

FWRD stock traded up $1.10 during trading on Monday, hitting $29.28. The stock had a trading volume of 584,918 shares, compared to its average volume of 950,281. Forward Air Co. has a 1-year low of $26.35 and a 1-year high of $121.38. The stock has a market cap of $772.11 million, a price-to-earnings ratio of 4.56 and a beta of 0.98. The company's 50 day moving average price is $34.82 and its two-hundred day moving average price is $54.11. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.46 and a current ratio of 1.46.

Forward Air (NASDAQ:FWRD - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.16). The firm had revenue of $338.43 million for the quarter, compared to analysts' expectations of $406.96 million. Forward Air had a net margin of 10.58% and a return on equity of 15.30%. The business's quarterly revenue was down 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 EPS. On average, sell-side analysts forecast that Forward Air Co. will post 0.58 EPS for the current fiscal 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.