Thrivent Financial for Lutherans Has $499,000 Stock Holdings in Forward Air Co. (NASDAQ:FWRD)

Thrivent Financial for Lutherans reduced its position in shares of Forward Air Co. (NASDAQ:FWRD) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,210 shares of the transportation company’s stock after selling 507 shares during the period. Thrivent Financial for Lutherans owned approximately 0.10% of Forward Air worth $499,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FWRD. Nordea Investment Management AB acquired a new position in shares of Forward Air during the 1st quarter worth $3,437,000. Schroder Investment Management Group raised its stake in Forward Air by 23.4% during the fourth quarter. Schroder Investment Management Group now owns 410,664 shares of the transportation company’s stock worth $25,818,000 after acquiring an additional 77,909 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Forward Air by 244.3% in the first quarter. BNP Paribas Financial Markets now owns 95,963 shares of the transportation company’s stock worth $2,985,000 after acquiring an additional 68,093 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Forward Air by 37.8% in the 1st quarter. Principal Financial Group Inc. now owns 194,512 shares of the transportation company’s stock valued at $6,051,000 after purchasing an additional 53,310 shares in the last quarter. Finally, Boston Trust Walden Corp bought a new stake in shares of Forward Air during the 2nd quarter valued at approximately $611,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FWRD shares. Robert W. Baird increased their price objective on shares of Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Benchmark reiterated a “hold” rating on shares of Forward Air in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.00.

Forward Air Stock Down 0.4 %

Shares of NASDAQ FWRD opened at $37.49 on Wednesday. The company has a 50 day simple moving average of $31.61 and a 200 day simple moving average of $25.12. The company has a debt-to-equity ratio of 4.70, a current ratio of 1.33 and a quick ratio of 1.33. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $79.51. The firm has a market cap of $991.16 million, a PE ratio of 10.96 and a beta of 1.02.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, August 7th. The transportation company reported ($23.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($23.11). Forward Air had a negative net margin of 30.77% and a negative return on equity of 79.11%. The business had revenue of $643.67 million for the quarter, compared to the consensus estimate of $642.92 million. During the same period in the previous year, the business posted $0.91 EPS. Forward Air’s revenue was up 92.9% on a year-over-year basis. On average, research analysts forecast that Forward Air Co. will post -1.01 EPS for the current 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.