Forward Air Corporation $FWRD Shares Bought by Prescott Group Capital Management L.L.C.

Key Points

• Prescott Group Capital Management increased its Forward Air stake by 138.7% in the third quarter, adding 171,829 shares to hold 295,726 shares worth about $4.51 million.
• Institutional investors own 97.03% of Forward Air; several major funds recently established or expanded positions.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $26.00. The stock opened at $18.40 in the article’s reported session.

Prescott Group Capital Management L.L.C. increased its stake in shares of Forward Air Corporation (NASDAQ:FWRD - Free Report) by 138.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 295,726 shares of the transportation company's stock after acquiring an additional 171,829 shares during the quarter. Prescott Group Capital Management L.L.C. owned approximately 0.94% of Forward Air worth $4,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Forward Air in the second quarter valued at $37,485,000. Cibc World Market Inc. purchased a new stake in shares of Forward Air during the second quarter valued at $14,485,000. Deutsche Bank AG purchased a new position in shares of Forward Air during the second quarter valued at approximately $8,293,000. Dimensional Fund Advisors LP lifted its holdings in shares of Forward Air by 108.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 318,858 shares of the transportation company's stock valued at $5,328,000 after buying an additional 166,084 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Forward Air in the first quarter worth about $3,535,000. Institutional investors own 97.03% of the company's stock.

Forward Air Stock Performance

FWRD opened at $18.40 on Wednesday. The company has a debt-to-equity ratio of 13.98, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market capitalization of $581.81 million, a price-to-earnings ratio of -2.07 and a beta of 1.31. The company has a fifty day moving average of $16.05 and a 200 day moving average of $17.65. Forward Air Corporation has a fifty-two week low of $7.86 and a fifty-two week high of $31.17.

Analysts Set New Price Targets

FWRD has been the subject of a number of recent analyst reports. Susquehanna dropped their price target on shares of Forward Air from $29.00 to $25.00 and set a "positive" rating for the company in a research report on Friday, October 2nd. Weiss Ratings upgraded shares of Forward Air from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, September 8th. Wall Street Zen raised shares of Forward Air from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Stifel Nicolaus set a $27.00 price target on Forward Air in a research note on Thursday, October 29th. Finally, Zacks Research raised Forward Air from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $26.00.

About Forward Air

Forward Air Corporation NASDAQ: FWRD is a transportation and logistics company that provides time-definite freight and supply chain services. Its offerings include expedited less-than-truckload transportation, truckload services, intermodal and drayage operations, final-mile delivery, and other logistics solutions designed for shipments requiring reliable transit times.

The company serves businesses across North America and supports domestic and international supply chains through a network of terminals, transportation partners, and logistics facilities.

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