Prescott Group Capital Management L.L.C. Takes $1.08 Million Position in Forward Air Corporation $FWRD

Prescott Group Capital Management L.L.C. purchased a new stake in Forward Air Corporation (NASDAQ:FWRD) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 43,897 shares of the transportation company’s stock, valued at approximately $1,077,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FWRD. Amalgamated Bank boosted its stake in shares of Forward Air by 8.5% in the 2nd quarter. Amalgamated Bank now owns 6,174 shares of the transportation company’s stock valued at $152,000 after purchasing an additional 484 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Forward Air in the second quarter valued at approximately $1,826,000. Nisa Investment Advisors LLC lifted its holdings in Forward Air by 26.9% in the second 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 during the period. First Citizens Bank & Trust Co. bought a new position in Forward Air in the second quarter valued at approximately $371,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Forward Air during the 2nd quarter worth $357,000. 97.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Stifel Nicolaus cut their price target on Forward Air from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Susquehanna upped their price objective on Forward Air from $40.00 to $43.00 and gave the company a “positive” rating in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Forward Air in a research note on Wednesday, October 8th. Jefferies Financial Group restated a “buy” rating on shares of Forward Air in a research report on Thursday. Finally, Wall Street Zen cut Forward Air from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.67.

Forward Air Stock Up 0.0%

NASDAQ:FWRD opened at $20.91 on Friday. Forward Air Corporation has a 1 year low of $9.78 and a 1 year high of $37.23. The stock has a 50-day moving average price of $24.18 and a two-hundred day moving average price of $23.77. The stock has a market cap of $643.86 million, a price-to-earnings ratio of -3.49 and a beta of 1.42. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 7.91.

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