First Citizens Bank & Trust Co. Purchases Shares of 15,126 Forward Air Corporation $FWRD

First Citizens Bank & Trust Co. purchased a new stake in Forward Air Corporation (NASDAQ:FWRD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,126 shares of the transportation company’s stock, valued at approximately $371,000.

A number of other institutional investors have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Forward Air by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock worth $299,000 after purchasing an additional 624 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Forward Air by 7.0% in the first quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock worth $201,000 after purchasing an additional 654 shares in the last quarter. GAMMA Investing LLC lifted its position 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 worth $76,000 after purchasing an additional 790 shares in the last quarter. Bfsg LLC lifted its position in shares of Forward Air by 15.2% in the second quarter. Bfsg LLC now owns 7,805 shares of the transportation company’s stock worth $192,000 after purchasing an additional 1,030 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Forward Air by 12.9% in the second quarter. State of Alaska Department of Revenue now owns 12,498 shares of the transportation company’s stock worth $306,000 after purchasing an additional 1,428 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Zacks Research lowered shares of Forward Air from a “hold” rating to a “strong sell” rating in a research report on Thursday. Susquehanna upped their price target on shares of Forward Air from $40.00 to $43.00 and gave the stock a “positive” rating in a research report on Tuesday, August 12th. Wall Street Zen lowered shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Stifel Nicolaus dropped their price target on shares of Forward Air from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Forward Air in a research report on Saturday. Two investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $33.67.

Forward Air Price Performance

Shares of FWRD opened at $19.66 on Monday. The firm has a market capitalization of $605.33 million, a PE ratio of -3.28 and a beta of 1.39. The company’s 50-day moving average is $26.25 and its 200-day moving average is $23.45. Forward Air Corporation has a fifty-two week low of $9.78 and a fifty-two week high of $39.89. The company has a debt-to-equity ratio of 7.91, a current ratio of 1.20 and a quick ratio of 1.20.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings data on Monday, August 11th. The transportation company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.24). The company had revenue of $618.84 million during the quarter, compared to the consensus estimate of $627.98 million. Forward Air had a negative net margin of 6.86% and a negative return on equity of 40.36%. Forward Air’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($23.29) earnings per share. Equities analysts forecast that Forward Air Corporation will post -0.72 EPS 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 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.