On June 6, 2023, the Commonwealth of Pennsylvania Public School Empls Retrmt SYS announced a 16.3% increase in its position within Forward Air Co. (NASDAQ:FWRD), an American transportation company that offers less-than-truckload (LTL), truckload, intermodal, and pool distribution services. According to SEC filings, this increase equated to the acquisition of an additional 3,992 shares during the fourth quarter, which brought the firm’s total ownership to 28,457 shares- a stake worth $2.985 million.
Forward Air’s Expedited LTL segment offers regional and national LTL delivery options while also providing final mile and truckload services that offer a promising future for potential investors. The company has managed to climb out of its fifty-two week low of $84.04 and stands strong at $98.55 per share currently. A fifty-day moving average settling at $102.21 sees some bullish action occurring on FWRD’s stock price with a two-hundred day moving average coming in just below at $104.57.
There are some intriguing statistics surrounding this transportation provider that cannot be ignored by Wall Street powerhouses. With a market capitalization of $2.56 billion, it represents steady middle-market growth with potential realistic market expansion goals for high net worth clients considering diversification options in their portfolios.
Forward Air is set to thrive in the growing e-commerce environment by continually becoming more efficient through technology investments as well as keeping themselves ahead of their competitors by offering expedited LTL services from regional to national tiers taking bold steps towards eco-friendly and sustainable supply chain solutions – offering dividend income opportunities as well.
Although debt ratios are typical for companies operating within these markets with a debt-to-equity ratio settling at 0.25; however Forward Air has exhibited solid quick ratios reflected by current liquidity levels available for satisfying any debt obligations or emerging business investments.
In summary, Forward Air Co. (NASDAQ:FWRD) is a mid-market transportation provider offering LTL, truckload, intermodal, and pool distribution services present across segments of the supply chain market representing tremendous potential for growth on both Wall Street as well as Main Street investors.
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Forward Air Corp sees high investments from large firms
Forward Air Corp, a provider of less-than-truckload, truckload, intermodal and pool distribution services, has recently seen high investments from numerous large firms. Ancora Advisors LLC now owns 1,753,799 shares in the transportation company’s stock worth $155,754,000 following their purchase of an additional 269,446 shares last quarter. Pacer Advisors Inc. also increased their holdings in Forward Air by 773,476.5% during the fourth quarter and BlackRock Inc raised its position in the company’s stock by 2.8% in the third quarter. Hedge funds and other institutional investors now own 99.28% of Forward Air’s stock.
Several brokerages have recently issued reports on Forward Air including Raymond James which lowered their price target from $128 to $115 per share; StockNews.com started coverage on Forward Air with a “hold” rating; Susquehanna decreased their target price on the business from $138 to $125 per share and Stephens restated an “overweight” rating with a $125 price target for Forward Air.
Forward Air’s Expedited LTL segment provides expedited regional, inter-regional and national LTL, final mile and truckload services while Intermodal offers transportation service options utilizing arrangements with various motor carriers according to the firm’s website.
In Q1 of this year, Forward Air made a return on equity of 27.50% alongside earnings per share (EPS) of $1.37 for the period beating analyst consensus estimates by $0.07.
The transportation firm has disclosed a quarterly dividend payable June 13th for shareholders of record as of May 25th at $0.24 per share highlighting its commitment to investors even amidst market volatility generated by current geopolitical events globally.