Semanteon Capital Management LP Buys New Shares in Forward Air Co. (NASDAQ:FWRD)

Semanteon Capital Management LP purchased a new position in shares of Forward Air Co. (NASDAQ:FWRD) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 4,728 shares of the transportation company’s stock, valued at approximately $297,000.

Several other hedge funds have also recently added to or reduced their stakes in FWRD. CWM LLC lifted its position in Forward Air by 86.9% in the 3rd quarter. CWM LLC now owns 669 shares of the transportation company’s stock worth $46,000 after buying an additional 311 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Forward Air by 306.9% in the 3rd quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock worth $65,000 after acquiring an additional 715 shares during the last quarter. Anchor Investment Management LLC bought a new stake in shares of Forward Air in the 4th quarter worth approximately $99,000. AlphaMark Advisors LLC bought a new position in shares of Forward Air during the 3rd quarter valued at $154,000. Finally, Fox Run Management L.L.C. purchased a new position in Forward Air in the 3rd quarter worth $207,000. Institutional investors own 97.03% of the company’s stock.

Forward Air Trading Down 3.3 %

Forward Air stock opened at $22.27 on Friday. The company has a market capitalization of $587.26 million, a price-to-earnings ratio of 3.47 and a beta of 0.98. The business’s fifty day simple moving average is $30.18 and its two-hundred day simple moving average is $50.39. Forward Air Co. has a 12 month low of $21.70 and a 12 month high of $121.38. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 2.38.

Forward Air (NASDAQ:FWRD) last issued its earnings results on Thursday, February 29th. The transportation company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.16). Forward Air had a net margin of 10.58% and a return on equity of 15.30%. The business had revenue of $338.43 million for the quarter, compared to analysts’ expectations of $406.96 million. During the same quarter in the prior year, the business posted $1.65 earnings per share. The business’s revenue for the quarter was down 16.0% on a year-over-year basis. As a group, equities analysts predict that Forward Air Co. will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FWRD shares. StockNews.com lowered shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Wolfe Research cut Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a report on Wednesday, January 10th. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Wednesday. 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 research report on Friday, March 1st. Finally, Stifel Nicolaus reduced their price target on shares of Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Forward Air has an average rating of “Hold” and a consensus target price of $80.14.

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.