Forward Air Co. (NASDAQ:FWRD) Short Interest Down 13.4% in June

Forward Air Co. (NASDAQ:FWRD) saw a significant decline in short interest in June. As of June 30th, there was short interest totalling 5,540,000 shares, a decline of 13.4% from the June 15th total of 6,400,000 shares. Currently, 27.9% of the shares of the stock are sold short. Based on an average daily volume of 1,300,000 shares, the days-to-cover ratio is currently 4.3 days.

Wall Street Analyst Weigh In

Several research firms recently commented on FWRD. Benchmark restated a “hold” rating on shares of Forward Air in a research report on Wednesday, April 24th. Robert W. Baird boosted their target price on shares of Forward Air from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, July 3rd. Finally, Wolfe Research upgraded shares of Forward Air from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $76.86.

Institutional Investors Weigh In On Forward Air

A number of institutional investors and hedge funds have recently made changes to their positions in the company. UMB Bank n.a. increased its position in Forward Air by 413.5% in the first quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock worth $26,000 after purchasing an additional 674 shares during the period. GAMMA Investing LLC grew its position in shares of Forward Air by 2,329.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock worth $38,000 after buying an additional 1,910 shares during the period. Headlands Technologies LLC grew its position in shares of Forward Air by 98.5% during the 1st quarter. Headlands Technologies LLC now owns 1,634 shares of the transportation company’s stock worth $51,000 after buying an additional 811 shares during the period. TFO Wealth Partners LLC raised its stake in shares of Forward Air by 116,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock worth $73,000 after buying an additional 1,162 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in Forward Air in the first quarter valued at approximately $75,000. Institutional investors own 97.03% of the company’s stock.

Forward Air Stock Up 1.4 %

Shares of NASDAQ FWRD opened at $25.20 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.27. The company has a market cap of $666.29 million, a price-to-earnings ratio of 7.37 and a beta of 1.00. Forward Air has a 12-month low of $11.21 and a 12-month high of $121.38. The firm’s 50-day simple moving average is $18.33 and its 200 day simple moving average is $30.45.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, May 8th. The transportation company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.49). Forward Air had a net margin of 4.08% and a return on equity of 5.37%. The company had revenue of $541.81 million for the quarter, compared to the consensus estimate of $644.00 million. During the same period last year, the company earned $1.37 earnings per share. On average, research analysts expect that Forward Air will post -0.46 earnings per share for the current fiscal 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.