Quantbot Technologies LP Takes $1.29 Million Position in Forward Air Corporation $FWRD

Quantbot Technologies LP acquired a new position in Forward Air Corporation (NASDAQ:FWRD) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 95,873 shares of the transportation company’s stock, valued at approximately $1,295,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Landscape Capital Management L.L.C. bought a new stake in Forward Air during the second quarter valued at approximately $2,987,000. AlpInvest Partners B.V. bought a new position in shares of Forward Air in the 2nd quarter worth $1,396,000. Carlyle Group Inc. bought a new position in shares of Forward Air in the 2nd quarter worth $1,448,000. BlackRock Inc. purchased a new stake in shares of Forward Air during the 2nd quarter valued at $37,485,000. Finally, Deutsche Bank AG purchased a new stake in shares of Forward Air during the 2nd quarter valued at $8,293,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Zacks Research raised Forward Air from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Weiss Ratings downgraded Forward Air from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. Susquehanna lifted their price target on Forward Air from $18.00 to $29.00 and gave the stock a “positive” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen upgraded Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Forward Air Stock Down 0.9%

Shares of NASDAQ FWRD opened at $17.41 on Wednesday. The stock has a market capitalization of $550.50 million, a P/E ratio of -1.96 and a beta of 1.36. Forward Air Corporation has a one year low of $7.86 and a one year high of $32.00. The firm’s 50 day simple moving average is $15.28 and its two-hundred day simple moving average is $17.10. The company has a debt-to-equity ratio of 13.98, a current ratio of 1.32 and a quick ratio of 1.32.

Forward Air 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.