New York State Teachers Retirement System Sells 2,817 Shares of Forward Air Co. (NASDAQ:FWRD)

New York State Teachers Retirement System reduced its stake in shares of Forward Air Co. (NASDAQ:FWRD) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,893 shares of the transportation company’s stock after selling 2,817 shares during the quarter. New York State Teachers Retirement System owned about 0.30% of Forward Air worth $5,081,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantamental Technologies LLC grew its stake in shares of Forward Air by 10.7% during the first quarter. Quantamental Technologies LLC now owns 1,991 shares of the transportation company’s stock valued at $129,000 after purchasing an additional 193 shares during the last quarter. Wesbanco Bank Inc. bought a new stake in shares of Forward Air during the first quarter valued at approximately $207,000. Parametrica Management Ltd bought a new stake in shares of Forward Air during the first quarter valued at approximately $220,000. CWM Advisors LLC grew its stake in shares of Forward Air by 11.9% during the second quarter. CWM Advisors LLC now owns 3,568 shares of the transportation company’s stock valued at $211,000 after purchasing an additional 379 shares during the last quarter. Finally, Brinker Capital Inc. bought a new stake in shares of Forward Air during the first quarter valued at approximately $263,000. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on FWRD. Zacks Investment Research raised shares of Forward Air from a “sell” rating to a “hold” rating in a research note on Friday. Deutsche Bank raised their price objective on shares of Forward Air from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, BidaskClub raised shares of Forward Air from a “hold” rating to a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Forward Air presently has an average rating of “Hold” and an average target price of $70.00.

FWRD stock traded down $0.42 during midday trading on Friday, reaching $61.59. The company’s stock had a trading volume of 109,559 shares, compared to its average volume of 153,254. Forward Air Co. has a 52 week low of $51.54 and a 52 week high of $72.81. The stock has a market capitalization of $1.78 billion, a PE ratio of 19.74 and a beta of 1.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.73 and a current ratio of 1.41. The stock’s 50-day moving average price is $59.66.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Thursday, July 25th. The transportation company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.04). Forward Air had a net margin of 6.70% and a return on equity of 17.18%. The business had revenue of $345.76 million during the quarter, compared to the consensus estimate of $348.07 million. During the same period in the previous year, the business posted $0.82 earnings per share. Forward Air’s revenue was up 4.7% compared to the same quarter last year. Analysts predict that Forward Air Co. will post 3.24 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 State and Canada. The company operates through four segments: Expedited Less-Than-Truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).

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Institutional Ownership by Quarter for Forward Air (NASDAQ:FWRD)

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