Freestone Grove Partners LP purchased a new position in shares of Forward Air Corporation (NASDAQ:FWRD – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor purchased 56,786 shares of the transportation company’s stock, valued at approximately $767,000.
Several other hedge funds have also made changes to their positions in FWRD. Jupiter Topco LLC purchased a new stake in shares of Forward Air in the second quarter valued at $167,000. ADAR1 Capital Management LLC acquired a new stake in Forward Air in the 2nd quarter worth about $652,000. Hsbc Holdings PLC acquired a new stake in Forward Air in the 2nd quarter worth about $381,000. PDT Partners LLC purchased a new stake in Forward Air in the 2nd quarter valued at about $1,974,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Forward Air in the 2nd quarter valued at about $192,000. Institutional investors and hedge funds own 97.03% of the company’s stock.
Wall Street Analyst Weigh In
FWRD has been the topic of several recent analyst reports. Zacks Research upgraded shares of Forward Air from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Susquehanna boosted their target price on shares of Forward Air from $18.00 to $29.00 and gave the company a “positive” rating in a report on Thursday, August 13th. Wall Street Zen raised shares of Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Stifel Nicolaus increased their price target on shares of Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings lowered shares of Forward Air from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.
Forward Air Stock Performance
NASDAQ FWRD opened at $16.99 on Friday. The firm has a market capitalization of $537.22 million, a P/E ratio of -1.91 and a beta of 1.36. Forward Air Corporation has a 1-year low of $7.86 and a 1-year high of $31.30. The company has a debt-to-equity ratio of 13.98, a current ratio of 1.32 and a quick ratio of 1.32. The business’s 50-day simple moving average is $15.51 and its 200-day simple moving average is $16.94.
Forward Air Profile
Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.
Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.
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