Proficio Capital Partners LLC Buys New Position in Forward Air Co. (NASDAQ:FWRD)

Proficio Capital Partners LLC bought a new stake in shares of Forward Air Co. (NASDAQ:FWRD) during the 4th quarter, HoldingsChannel.com reports. The fund bought 25,284 shares of the transportation company’s stock, valued at approximately $815,000.

Other hedge funds also recently modified their holdings of the company. Byrne Asset Management LLC boosted its position in shares of Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 590 shares during the last quarter. Quantinno Capital Management LP purchased a new position in Forward Air in the third quarter worth $224,000. Wolverine Asset Management LLC boosted its position in Forward Air by 129.6% in the fourth quarter. Wolverine Asset Management LLC now owns 8,565 shares of the transportation company’s stock worth $276,000 after purchasing an additional 37,461 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Forward Air in the third quarter worth $298,000. Finally, Louisiana State Employees Retirement System boosted its position in Forward Air by 5.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the transportation company’s stock worth $313,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on FWRD. Stifel Nicolaus boosted their price objective on Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. Finally, Robert W. Baird cut their price objective on Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Forward Air has an average rating of “Hold” and an average price target of $37.00.

Forward Air Stock Performance

Shares of FWRD opened at $21.25 on Friday. The firm has a market cap of $615.27 million, a PE ratio of -0.89 and a beta of 1.08. The stock’s fifty day moving average price is $28.01 and its two-hundred day moving average price is $32.30. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $40.92.

Forward Air Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.