Hussman Strategic Advisors Inc. Buys New Position in Forward Air Corporation $FWRD

Hussman Strategic Advisors Inc. purchased a new position in Forward Air Corporation (NASDAQ:FWRD) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 42,000 shares of the transportation company’s stock, valued at approximately $1,077,000. Hussman Strategic Advisors Inc. owned 0.14% of Forward Air as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FWRD. Ridgemont Partners Management LLC increased its position in Forward Air by 0.7% during the third quarter. Ridgemont Partners Management LLC now owns 1,937,405 shares of the transportation company’s stock worth $49,675,000 after acquiring an additional 13,926 shares during the period. Private Management Group Inc. increased its holdings in shares of Forward Air by 8.7% during the 2nd quarter. Private Management Group Inc. now owns 1,046,226 shares of the transportation company’s stock worth $25,674,000 after purchasing an additional 83,600 shares during the period. JPMorgan Chase & Co. raised its position in shares of Forward Air by 47.3% during the second quarter. JPMorgan Chase & Co. now owns 786,883 shares of the transportation company’s stock valued at $19,310,000 after buying an additional 252,509 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Forward Air by 24.7% in the second quarter. Bank of America Corp DE now owns 611,316 shares of the transportation company’s stock valued at $15,002,000 after buying an additional 121,190 shares during the period. Finally, Jefferies Financial Group Inc. grew its position in Forward Air by 7.0% during the second quarter. Jefferies Financial Group Inc. now owns 384,634 shares of the transportation company’s stock worth $9,439,000 after buying an additional 25,283 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FWRD shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Forward Air in a report on Thursday, November 6th. Wall Street Zen lowered Forward Air from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Stifel Nicolaus raised their target price on Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Zacks Research downgraded shares of Forward Air from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Finally, Susquehanna increased their price objective on shares of Forward Air from $42.00 to $45.00 and gave the company a “positive” rating in a research note on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Forward Air has a consensus rating of “Hold” and a consensus target price of $35.00.

Forward Air Price Performance

Shares of FWRD stock opened at $27.42 on Thursday. The stock’s fifty day simple moving average is $25.60 and its 200 day simple moving average is $25.80. Forward Air Corporation has a one year low of $9.78 and a one year high of $34.00. The firm has a market cap of $856.88 million, a price-to-earnings ratio of -7.12 and a beta of 1.35. The company has a debt-to-equity ratio of 8.73, a current ratio of 1.20 and a quick ratio of 1.20.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings data 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). Forward Air had a negative return on equity of 33.13% and a negative net margin of 4.64%.The company had revenue of $631.76 million for the quarter, compared to analyst estimates of $645.45 million. During the same quarter in the prior year, the company earned ($2.62) earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. On average, analysts expect that Forward Air Corporation will post -0.72 earnings per share for the current fiscal year.

About Forward Air

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.