Forward Air Co. (NASDAQ:FWRD) Short Interest Down 16.3% in September

Forward Air Co. (NASDAQ:FWRD) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 4,100,000 shares, a decrease of 16.3% from the September 15th total of 4,900,000 shares. Based on an average daily volume of 857,900 shares, the days-to-cover ratio is currently 4.8 days. Approximately 21.5% of the company’s stock are short sold.

Forward Air Stock Performance

Shares of NASDAQ:FWRD traded up $1.51 during midday trading on Wednesday, reaching $37.83. The company’s stock had a trading volume of 694,748 shares, compared to its average volume of 1,026,428. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 4.70. The stock has a fifty day moving average of $32.94 and a 200 day moving average of $25.33. Forward Air has a twelve month low of $11.21 and a twelve month high of $79.51. The firm has a market capitalization of $1.00 billion, a PE ratio of 11.04 and a beta of 1.02.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Wednesday, August 7th. The transportation company reported ($23.29) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $643.67 million for the quarter, compared to analysts’ expectations of $642.92 million. During the same quarter in the previous year, the business posted $0.91 EPS. The business’s quarterly revenue was up 92.9% on a year-over-year basis. On average, equities analysts expect that Forward Air will post -1.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FWRD has been the topic of a number of recent analyst reports. Benchmark restated a “hold” rating on shares of Forward Air in a report on Monday, August 12th. Robert W. Baird lifted their price target on Forward Air from $17.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $51.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FWRD. Point72 DIFC Ltd purchased a new position in shares of Forward Air during the 2nd quarter valued at approximately $26,000. Headlands Technologies LLC raised its position in shares of Forward Air by 98.5% in the first quarter. Headlands Technologies LLC now owns 1,634 shares of the transportation company’s stock worth $51,000 after acquiring an additional 811 shares during the period. Gladius Capital Management LP boosted its stake in shares of Forward Air by 33.5% during the 2nd quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock worth $37,000 after acquiring an additional 493 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 acquiring an additional 1,910 shares in the last quarter. Finally, EntryPoint Capital LLC grew its position in shares of Forward Air by 36.2% during the 1st quarter. EntryPoint Capital LLC now owns 3,220 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 856 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

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.