Semanteon Capital Management LP Takes $297,000 Position in Forward Air Co. (NASDAQ:FWRD)

Semanteon Capital Management LP purchased a new stake in shares of Forward Air Co. (NASDAQ:FWRD) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,728 shares of the transportation company’s stock, valued at approximately $297,000.

A number of other institutional investors have also recently bought and sold shares of the business. Illinois Municipal Retirement Fund boosted its holdings in shares of Forward Air by 1.6% during the fourth quarter. Illinois Municipal Retirement Fund now owns 15,070 shares of the transportation company’s stock worth $947,000 after purchasing an additional 236 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Forward Air by 3.7% in the third quarter. Teacher Retirement System of Texas now owns 6,964 shares of the transportation company’s stock worth $479,000 after acquiring an additional 251 shares during the last quarter. Equitable Trust Co. raised its holdings in shares of Forward Air by 7.0% during the fourth quarter. Equitable Trust Co. now owns 4,205 shares of the transportation company’s stock worth $264,000 after acquiring an additional 276 shares in the last quarter. CWM LLC boosted its position in Forward Air by 86.9% during the third quarter. CWM LLC now owns 669 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 311 shares during the last quarter. Finally, Synovus Financial Corp grew its stake in Forward Air by 12.6% in the third quarter. Synovus Financial Corp now owns 4,533 shares of the transportation company’s stock valued at $312,000 after purchasing an additional 509 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Forward Air Trading Down 3.3 %

FWRD opened at $22.27 on Friday. Forward Air Co. has a 1-year low of $21.70 and a 1-year high of $121.38. The firm has a 50-day moving average price of $30.18 and a two-hundred day moving average price of $50.39. The stock has a market capitalization of $587.26 million, a PE ratio of 3.47 and a beta of 0.98. 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 released 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 firm had revenue of $338.43 million during the quarter, compared to analyst estimates of $406.96 million. During the same period last year, the business posted $1.65 earnings per share. The firm’s quarterly revenue was down 16.0% on a year-over-year basis. As a group, equities analysts anticipate that Forward Air Co. will post 0.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a research note on Wednesday. Wolfe Research lowered Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a research note on Wednesday, January 10th. Stifel Nicolaus lowered their price target on shares of Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. StockNews.com downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a report on Monday, March 18th. Finally, Robert W. Baird dropped their price target 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. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.