Prescott Group Capital Management L.L.C. Acquires 171,829 Shares of Forward Air Corporation $FWRD

Prescott Group Capital Management L.L.C. boosted its stake in shares of Forward Air Corporation (NASDAQ:FWRD) by 138.7% during the 3rd quarter, according to its most recent disclosure 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.’s holdings in Forward Air were worth $4,510,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Forward Air in the 2nd quarter worth approximately $37,485,000. Cibc World Market Inc. bought a new position in shares of Forward Air during the 2nd quarter valued at approximately $14,485,000. Deutsche Bank AG bought a new position in shares of Forward Air during the 2nd quarter valued at approximately $8,293,000. Landscape Capital Management L.L.C. bought a new position in shares of Forward Air during the 2nd quarter valued at approximately $2,987,000. Finally, Renaissance Technologies LLC purchased a new stake in Forward Air during the 1st quarter valued at $3,535,000. 97.03% of the stock is owned by institutional investors.

Forward Air Stock Performance

Shares of NASDAQ:FWRD opened at $18.40 on Wednesday. Forward Air Corporation has a one year low of $7.86 and a one year high of $31.17. The firm has a market cap of $581.81 million, a PE ratio of -2.07 and a beta of 1.31. The firm’s 50 day simple moving average is $16.05 and its 200-day simple moving average is $17.65. The company has a debt-to-equity ratio of 13.98, a quick ratio of 1.32 and a current ratio of 1.32.

Analyst Ratings Changes

A number of analysts recently issued reports on FWRD shares. Wall Street Zen upgraded Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Stifel Nicolaus set a $27.00 price objective on shares of Forward Air in a research report on Thursday, October 29th. Susquehanna reduced their target price on shares of Forward Air from $29.00 to $25.00 and set a “positive” rating on the stock in a research note on Friday, October 2nd. Zacks Research upgraded shares of Forward Air from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 29th. Finally, Weiss Ratings upgraded shares of Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given 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 $26.00.

Forward Air Profile

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.