107,214 Shares in Forward Air Corporation $FWRD Purchased by Carlyle Group Inc.

Carlyle Group Inc. bought a new stake in shares of Forward Air Corporation (NASDAQ:FWRD) during the 2nd quarter, Holdings Channel reports. The firm bought 107,214 shares of the transportation company’s stock, valued at approximately $1,448,000. Forward Air comprises 0.0% of Carlyle Group Inc.’s investment portfolio, making the stock its 10th biggest holding.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Forward Air in the second quarter worth approximately $37,485,000. Ancora Advisors LLC boosted its stake in shares of Forward Air by 8.5% in the 3rd quarter. Ancora Advisors LLC now owns 1,475,055 shares of the transportation company’s stock worth $37,820,000 after buying an additional 116,012 shares during the last quarter. State Street Corp grew its holdings in shares of Forward Air by 2.1% in the fourth quarter. State Street Corp now owns 949,784 shares of the transportation company’s stock worth $23,745,000 after acquiring an additional 19,854 shares during the period. Melqart Asset Management UK Ltd increased its position in Forward Air by 122.3% during the fourth quarter. Melqart Asset Management UK Ltd now owns 849,876 shares of the transportation company’s stock valued at $21,247,000 after acquiring an additional 467,482 shares during the last quarter. Finally, Cibc World Market Inc. lifted its holdings in Forward Air by 3.8% in the fourth quarter. Cibc World Market Inc. now owns 784,731 shares of the transportation company’s stock valued at $19,618,000 after acquiring an additional 28,693 shares during the period. 97.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FWRD has been the subject of several research reports. Stifel Nicolaus upped their price target on shares of Forward Air from $19.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Susquehanna upped their target price on shares of Forward Air from $18.00 to $29.00 and gave the company a “positive” rating in a report on Thursday. Finally, Zacks Research upgraded shares of Forward Air from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Forward Air Stock Performance

NASDAQ:FWRD opened at $19.32 on Tuesday. The stock has a 50-day simple moving average of $14.65 and a two-hundred day simple moving average of $17.54. Forward Air Corporation has a 52-week low of $7.86 and a 52-week high of $32.00. 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 firm has a market capitalization of $610.90 million, a PE ratio of -2.17 and a beta of 1.36.

About Forward Air

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.