107,214 Shares in Forward Air Corporation $FWRD Purchased by Carlyle Group Inc.

Key Points

• Carlyle Group acquired 107,214 shares of Forward Air in the second quarter, valued at approximately $1.45 million and representing 0.34% of the company. Institutional investors collectively own 97.03% of Forward Air.
• Several other institutions, including BlackRock and Deutsche Bank, also opened positions in Forward Air during the quarter, with BlackRock’s investment valued at approximately $37.5 million.
• Forward Air shares opened at $19.32, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $28.00; recent firms raised targets as high as $29.00.

Carlyle Group Inc. acquired a new position in Forward Air Corporation (NASDAQ:FWRD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 107,214 shares of the transportation company's stock, valued at approximately $1,448,000. Forward Air accounts for 0.0% of Carlyle Group Inc.'s holdings, making the stock its 10th largest holding. Carlyle Group Inc. owned 0.34% of Forward Air at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Forward Air in the 2nd quarter valued at approximately $37,485,000. Deutsche Bank AG purchased a new stake in Forward Air in the second quarter worth $8,293,000. Persistent Asset Partners Ltd purchased a new stake in Forward Air in the second quarter worth $148,000. Bank of New York Mellon Corp bought a new position in Forward Air in the second quarter worth $987,000. Finally, State of Wyoming bought a new position in Forward Air in the second quarter worth $102,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Forward Air Trading Up 1.9%

Forward Air stock opened at $19.32 on Tuesday. Forward Air Corporation has a 12 month low of $7.86 and a 12 month high of $32.00. The company has a market capitalization of $610.90 million, a price-to-earnings ratio of -2.17 and a beta of 1.36. The business's fifty day simple moving average is $14.65 and its two-hundred day simple moving average is $17.54. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 13.98.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Forward Air from $19.00 to $27.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Forward Air from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Forward Air from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 6th. Susquehanna boosted their price objective on shares of Forward Air from $18.00 to $29.00 and gave the stock a "positive" rating in a research note on Thursday. Finally, Zacks Research upgraded shares of Forward Air from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Forward Air has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Forward Air Company 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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