Clearbridge Investments LLC boosted its holdings in Forward Air Co. (NASDAQ:FWRD) by 42.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 720,663 shares of the transportation company’s stock after acquiring an additional 215,206 shares during the period. Clearbridge Investments LLC owned about 2.51% of Forward Air worth $46,649,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of FWRD. O Shaughnessy Asset Management LLC acquired a new position in Forward Air during the 4th quarter worth $42,000. Bank of Montreal Can lifted its position in Forward Air by 13.2% during the 4th quarter. Bank of Montreal Can now owns 1,781 shares of the transportation company’s stock worth $98,000 after acquiring an additional 208 shares during the last quarter. Quantamental Technologies LLC lifted its position in Forward Air by 10.7% during the 1st quarter. Quantamental Technologies LLC now owns 1,991 shares of the transportation company’s stock worth $129,000 after acquiring an additional 193 shares during the last quarter. Wesbanco Bank Inc. acquired a new position in Forward Air during the 1st quarter worth $207,000. Finally, Parametrica Management Ltd acquired a new position in Forward Air during the 1st quarter worth $220,000. 95.34% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ FWRD traded up $1.43 on Friday, reaching $59.58. The company’s stock had a trading volume of 137,327 shares, compared to its average volume of 153,172. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 19.10 and a beta of 1.55. The company’s 50-day moving average price is $58.15. Forward Air Co. has a 52 week low of $51.54 and a 52 week high of $72.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.73 and a current ratio of 1.73.
FWRD has been the topic of several research reports. Zacks Investment Research downgraded shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. Deutsche Bank boosted their price objective on shares of Rockwell Automation from $173.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Finally, BidaskClub downgraded shares of ZIX from a “strong-buy” rating to a “buy” rating in a report on Friday, June 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $70.00.
Forward Air Company Profile
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-Than-Truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).
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