November 30, 2016 - By Ellis Scott
Chris Ruble, President – Expedited Services of Forward Air Corp, in an insider legal trading transaction sold 4,000 shares whose amount is estimated to be $195,000 at average stock price of $48.8. Mr. Chris at present has rights to 18,771 shares, accounting for 0.06% of Forward Air Corp’s market cap.
Out of 4 analysts covering Forward Air (NASDAQ:FWRD), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $56 is the highest target while $42 is the lowest. The $49.25 average target is 1.84% above today’s ($48.36) stock price. Forward Air has been the topic of 11 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm has “Market Perform” rating given on Thursday, February 11 by Cowen & Co. Cowen & Co maintained Forward Air Corporation (NASDAQ:FWRD) rating on Tuesday, September 20. Cowen & Co has “Market Perform” rating and $48 price target. The stock of Forward Air Corporation (NASDAQ:FWRD) earned “Market Perform” rating by Cowen & Co on Friday, October 21. The firm earned “Sector Perform” rating on Thursday, February 11 by RBC Capital Markets. As per Tuesday, November 17, the company rating was upgraded by Robert W. Baird. Cowen & Co maintained the stock with “Market Perform” rating in Thursday, July 23 report. Cowen & Co maintained Forward Air Corporation (NASDAQ:FWRD) on Friday, October 23 with “Market Perform” rating. The firm has “Outperform” rating given on Tuesday, May 24 by RBC Capital Markets.
Insitutional Activity: The institutional sentiment decreased to 1.65 in Q2 2016. Its down 0.13, from 1.78 in 2016Q1. The ratio worsened, as 11 funds sold all Forward Air Corporation shares owned while 38 reduced positions. 22 funds bought stakes while 65 increased positions. They now own 29.56 million shares or 3.91% less from 30.76 million shares in 2016Q1.
Credit Suisse Ag has invested 0% of its portfolio in Forward Air Corporation (NASDAQ:FWRD). Jefferies Group Ltd holds 5,888 shares or 0% of its portfolio. The New York-based D E Shaw & Inc has invested 0% in Forward Air Corporation (NASDAQ:FWRD). Dimensional Fund Advisors Limited Partnership holds 0.03% or 1.11M shares in its portfolio. Ngam Advsr L P has 16,683 shares for 0.01% of their US portfolio. Palisade Capital Mngmt Llc Nj accumulated 30,750 shares or 0.05% of the stock. Moreover, Geneva Ltd Liability has 0.02% invested in Forward Air Corporation (NASDAQ:FWRD) for 24,104 shares. Moreover, Blackrock Advisors Ltd Liability has 0.01% invested in Forward Air Corporation (NASDAQ:FWRD) for 154,334 shares. Vanguard Inc, a Pennsylvania-based fund reported 2.42 million shares. Metropolitan Life New York accumulated 21,943 shares or 0.01% of the stock. Wells Fargo And Mn owns 92,730 shares or 0% of their US portfolio. Fenimore Asset Mngmt, a New York-based fund reported 642,933 shares. Fdx Advsr has 18,055 shares for 0.04% of their US portfolio. Ladenburg Thalmann Ser Incorporated accumulated 218 shares or 0% of the stock. Bnp Paribas Arbitrage Sa accumulated 0% or 10,069 shares.
Insider Transactions: Since June 3, 2016, the stock had 0 insider buys, and 23 insider sales for $14.54 million net activity. $473,834 worth of shares were sold by McLean Michael P on Tuesday, August 23. $123,255 worth of shares were sold by LYNCH GEORGE M on Friday, June 3. BELL RODNEY L had sold 29,024 shares worth $1.34 million. CAMPBELL BRUCE A also sold $3.72M worth of Forward Air Corporation (NASDAQ:FWRD) on Wednesday, August 24. $5,312 worth of shares were sold by JEWELL MATTHEW J on Monday, August 8. The insider RUBLE CHRIS C sold $318,989. The insider Hance Michael L sold 18,000 shares worth $828,924.
About 100,120 shares traded hands. Forward Air Corporation (NASDAQ:FWRD) has risen 1.46% since April 27, 2016 and is uptrending. It has underperformed by 3.77% the S&P500.
Forward Air Corporation offers services, which are classified into three divisions: Forward Air, Forward Air Solutions and Total Quality (TQI). The company has a market cap of $1.46 billion. The Company, through its three divisions, offers a range of logistic and other services, including expedited full truckload (TLX), pick-up and delivery (Forward Air Complete), pool distribution, temperature-controlled truckload, warehousing, customs brokerage and shipment consolidation and handling. It has a 38.97 P/E ratio. The Forward Air segment provides time-definite transportation and related logistics services to the North American deferred air freight market.
According to Zacks Investment Research, “Forward Air Corporation is a high-service level truckload carrier and contractor to the air cargo industry. The company provides scheduled trucking services to air freight forwarders, fully integrated air cargo carriers and domestic and international airlines through its Forward Air operations. Through its truckload operations, the company provides short- to medium-haul delivery to the high-service segment of the general commodities truckload market.”
Analysts await Forward Air Corporation (NASDAQ:FWRD) to report earnings on February, 14. They expect $0.55 earnings per share, down 27.63% or $0.21 from last year’s $0.76 per share. FWRD’s profit will be $16.60M for 21.98 P/E if the $0.55 EPS becomes a reality. After $0.51 actual earnings per share reported by Forward Air Corporation for the previous quarter, Wall Street now forecasts 7.84% EPS growth.
More notable recent Forward Air Corporation (NASDAQ:FWRD) news were published by: Reuters.com which released: “BRIEF-Forward Air Corporation announces 25 pct dividend increase” on October 26, 2016, also Businesswire.com with their article: “Forward Air Corporation Revises Third Quarter 2016 Guidance” published on September 20, 2016, Finance.Yahoo.com published: “Forward Air Corporation To Present At Stephens 2016 Fall Investment Conference ..” on November 01, 2016. More interesting news about Forward Air Corporation (NASDAQ:FWRD) were released by: Businesswire.com and their article: “Forward Air Corporation Reports Third Quarter 2016 Results” published on October 20, 2016 as well as Businesswire.com‘s news article titled: “Forward Air Corporation SVP and CFO Rodney L. Bell to Retire; Michael J ..” with publication date: May 26, 2016.
Forward Air Corporation, incorporated on October 23, 1981, offers services, which are classified into three divisions: Forward Air, Forward Air Solutions (FASI) and Total Quality (TQI). The Company, through its three divisions, offers a range of logistic and other services, including expedited full truckload (TLX), pick-up and delivery (Forward Air Complete), pool distribution, temperature-controlled truckload, warehousing, customs brokerage and shipment consolidation and handling.
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By Ellis Scott