Creative Planning Buys 1,129 Shares of Forward Air Co. (NASDAQ:FWRD)

Creative Planning grew its stake in Forward Air Co. (NASDAQ:FWRD) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,885 shares of the transportation company’s stock after acquiring an additional 1,129 shares during the period. Creative Planning owned 0.07% of Forward Air worth $704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FWRD. Gladius Capital Management LP raised its stake in shares of Forward Air by 33.5% during the second quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock worth $37,000 after buying an additional 493 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Forward Air by 3.9% during the second quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the transportation company’s stock worth $303,000 after buying an additional 600 shares during the last quarter. Headlands Technologies LLC raised its stake in shares of Forward Air by 98.5% during the first 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 last quarter. EntryPoint Capital LLC raised its stake in shares of Forward Air by 36.2% during the first quarter. EntryPoint Capital LLC now owns 3,220 shares of the transportation company’s stock worth $100,000 after buying an additional 856 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Forward Air during the second quarter worth approximately $26,000. 97.03% of the stock is owned by institutional investors.

Forward Air Stock Down 3.1 %

Shares of NASDAQ FWRD opened at $34.24 on Monday. The stock has a market cap of $948.45 million, a P/E ratio of -1.65 and a beta of 1.02. The firm has a 50 day moving average price of $35.40 and a 200 day moving average price of $26.24. The company has a debt-to-equity ratio of 4.70, a quick ratio of 1.33 and a current ratio of 1.33. Forward Air Co. has a 52-week low of $11.21 and a 52-week high of $68.09.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings data 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 return on equity of 79.11% and a negative net margin of 30.77%. The company had revenue of $643.67 million for the quarter, compared to the consensus estimate of $642.92 million. During the same period in the prior year, the company earned $0.91 EPS. The firm’s revenue was up 92.9% on a year-over-year basis. Analysts expect that Forward Air Co. will post -1.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Jefferies Financial Group set a $47.00 price target on shares of Forward Air and gave the stock a “buy” rating in a research note on Friday, October 18th. Robert W. Baird boosted their price objective on shares of Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Benchmark restated 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 issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.25.

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.