Jefferies Financial Group Inc. Has $9.44 Million Stake in Forward Air Corporation $FWRD

Jefferies Financial Group Inc. lifted its position in shares of Forward Air Corporation (NASDAQ:FWRD) by 7.0% during the second quarter, Holdings Channel.com reports. The firm owned 384,634 shares of the transportation company’s stock after buying an additional 25,283 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Forward Air were worth $9,439,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in Forward Air by 26.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,499 shares of the transportation company’s stock valued at $61,000 after buying an additional 530 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Forward Air by 34.1% in the second quarter. GAMMA Investing LLC now owns 3,105 shares of the transportation company’s stock valued at $76,000 after acquiring an additional 790 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its position in Forward Air by 12.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,725 shares of the transportation company’s stock worth $140,000 after acquiring an additional 629 shares during the period. MAI Capital Management boosted its holdings in Forward Air by 51.2% in the 2nd quarter. MAI Capital Management now owns 5,904 shares of the transportation company’s stock valued at $145,000 after purchasing an additional 2,000 shares during the period. Finally, Amalgamated Bank grew its position in shares of Forward Air by 8.5% during the 2nd quarter. Amalgamated Bank now owns 6,174 shares of the transportation company’s stock worth $152,000 after purchasing an additional 484 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FWRD has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a research report on Wednesday, October 8th. Stifel Nicolaus cut their target price on Forward Air from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, October 17th. Wall Street Zen lowered Forward Air from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Susquehanna boosted their price target on Forward Air from $40.00 to $43.00 and gave the stock a “positive” rating in a report on Tuesday, August 12th. Finally, Zacks Research lowered Forward Air from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.67.

Forward Air Trading Up 3.2%

NASDAQ FWRD opened at $20.38 on Monday. The business’s fifty day moving average is $22.43 and its 200 day moving average is $24.18. Forward Air Corporation has a twelve month low of $9.78 and a twelve month high of $37.23. The company has a market cap of $636.83 million, a price-to-earnings ratio of -3.40 and a beta of 1.42. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 7.91.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Wednesday, November 5th. The transportation company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.39). The business had revenue of $631.76 million during the quarter, compared to analyst estimates of $645.45 million. Forward Air had a negative net margin of 6.86% and a negative return on equity of 40.36%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company posted ($2.62) earnings per share. As a group, sell-side analysts expect that Forward Air Corporation will post -0.72 EPS for the current fiscal year.

About Forward Air

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.