Royce & Associates LP Has $2.87 Million Holdings in Forward Air Co. (NASDAQ:FWRD)

Royce & Associates LP trimmed its position in shares of Forward Air Co. (NASDAQ:FWRD) by 4.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,064 shares of the transportation company’s stock after selling 3,620 shares during the quarter. Royce & Associates LP’s holdings in Forward Air were worth $2,870,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Clearlake Capital Group L.P. increased its stake in Forward Air by 255.2% during the 2nd quarter. Clearlake Capital Group L.P. now owns 3,825,000 shares of the transportation company’s stock valued at $72,828,000 after purchasing an additional 2,747,994 shares in the last quarter. Ridgemont Partners Management LLC increased its position in shares of Forward Air by 172.7% during the second quarter. Ridgemont Partners Management LLC now owns 1,910,615 shares of the transportation company’s stock worth $36,378,000 after acquiring an additional 1,210,006 shares in the last quarter. MFN Partners Management LP acquired a new stake in shares of Forward Air in the 2nd quarter worth about $17,208,000. Federated Hermes Inc. lifted its position in Forward Air by 712.5% in the 2nd quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock valued at $12,965,000 after acquiring an additional 597,120 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Forward Air by 14.2% during the 1st quarter. Vanguard Group Inc. now owns 3,407,797 shares of the transportation company’s stock valued at $106,017,000 after purchasing an additional 424,924 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FWRD has been the topic of a number of recent research reports. Benchmark restated a “hold” rating on shares of Forward Air in a report on Monday, August 12th. Robert W. Baird raised their price objective on Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Stifel Nicolaus lifted their price objective on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, October 21st. StockNews.com upgraded shares of Forward Air to a “sell” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the stock a “buy” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.25.

Forward Air Trading Down 4.3 %

Shares of Forward Air stock opened at $33.02 on Tuesday. The firm has a market cap of $956.06 million, a PE ratio of -1.39 and a beta of 1.02. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $67.20. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.33. The stock has a fifty day moving average price of $36.06 and a 200-day moving average price of $27.25.

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.