Forward Air Co. (NASDAQ:FWRD) CAO Michael P. Mclean sold 3,333 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $50.33, for a total value of $167,749.89. Following the completion of the sale, the chief accounting officer now owns 21,718 shares in the company, valued at $1,093,066.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Forward Air Co. (FWRD) opened at 53.08 on Tuesday. The company’s 50 day moving average price is $50.97 and its 200-day moving average price is $49.04. Forward Air Co. has a 12-month low of $40.07 and a 12-month high of $54.73. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 56.71 and a beta of 1.05.
Forward Air (NASDAQ:FWRD) last issued its quarterly earnings results on Wednesday, April 26th. The transportation company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. Forward Air had a net margin of 2.82% and a return on equity of 12.77%. The company had revenue of $246.98 million during the quarter, compared to analysts’ expectations of $239.47 million. During the same quarter in the previous year, the company earned $0.43 EPS. Forward Air’s revenue was up 7.6% on a year-over-year basis. On average, analysts forecast that Forward Air Co. will post $2.31 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Thursday, May 25th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Tuesday, May 23rd. Forward Air’s dividend payout ratio (DPR) is presently 65.93%. Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Forward Air by 157,904.2% in the first quarter. BlackRock Inc. now owns 3,803,161 shares of the transportation company’s stock worth $180,917,000 after buying an additional 3,800,754 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Forward Air during the third quarter worth approximately $13,175,000. Arrowpoint Asset Management LLC raised its stake in shares of Forward Air by 16.4% in the fourth quarter. Arrowpoint Asset Management LLC now owns 1,937,340 shares of the transportation company’s stock worth $91,791,000 after buying an additional 272,881 shares in the last quarter. Norges Bank acquired a new stake in shares of Forward Air during the fourth quarter worth approximately $12,003,000. Finally, Russell Investments Group Ltd. purchased a new stake in Forward Air during the fourth quarter valued at about $6,180,000. 95.88% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on FWRD shares. TheStreet cut Forward Air from a “b” rating to a “c+” rating in a research report on Wednesday, February 8th. Zacks Investment Research upgraded Forward Air from a “sell” rating to a “hold” rating in a research report on Monday, February 13th. Seaport Global Securities started coverage on Forward Air in a research report on Thursday, March 2nd. They set a “neutral” rating on the stock. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $46.00 target price (up previously from $44.00) on shares of Forward Air in a research report on Friday, April 14th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Forward Air presently has an average rating of “Hold” and a consensus target price of $49.75. About Forward Air