Forward Air Co. (NASDAQ:FWRD) Shares Sold by Royce & Associates LP

Royce & Associates LP reduced its holdings in Forward Air Co. (NASDAQ:FWRD) by 3.4% during the 4th quarter, Holdings Channel reports. The fund owned 78,333 shares of the transportation company’s stock after selling 2,731 shares during the quarter. Royce & Associates LP’s holdings in Forward Air were worth $2,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in FWRD. Isthmus Partners LLC grew its stake in shares of Forward Air by 1.7% in the fourth quarter. Isthmus Partners LLC now owns 56,995 shares of the transportation company’s stock worth $1,838,000 after purchasing an additional 940 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in Forward Air in the 4th quarter valued at about $2,487,000. AlphaQuest LLC increased its stake in Forward Air by 155.9% during the 4th quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock valued at $94,000 after buying an additional 1,782 shares during the period. Amundi raised its position in shares of Forward Air by 149.0% during the 4th quarter. Amundi now owns 9,257 shares of the transportation company’s stock worth $296,000 after buying an additional 5,540 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Forward Air in the 4th quarter worth approximately $320,000. Institutional investors own 97.03% of the company’s stock.

Forward Air Trading Down 0.5 %

Forward Air stock opened at $21.21 on Friday. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $40.92. The firm’s 50 day moving average price is $28.23 and its two-hundred day moving average price is $32.37. The firm has a market cap of $614.11 million, a price-to-earnings ratio of -0.89 and a beta of 1.08. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FWRD shares. Robert W. Baird dropped their target price on Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Benchmark reissued a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. Finally, Stifel Nicolaus raised their target price on Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Forward Air has an average rating of “Hold” and an average target price of $37.00.

Forward Air 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.