Forward Air Corporation $FWRD is Littlejohn & Co. LLC’s Largest Position

Littlejohn & Co. LLC lowered its stake in shares of Forward Air Corporation (NASDAQ:FWRD) by 11.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,426,359 shares of the transportation company’s stock after selling 326,100 shares during the period. Forward Air makes up approximately 31.6% of Littlejohn & Co. LLC’s investment portfolio, making the stock its largest position. Littlejohn & Co. LLC owned 7.76% of Forward Air worth $60,659,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Forward Air by 15.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,353,608 shares of the transportation company’s stock worth $60,347,000 after purchasing an additional 307,906 shares during the period. Ancora Advisors LLC boosted its position in shares of Forward Air by 8.5% during the 3rd quarter. Ancora Advisors LLC now owns 1,475,055 shares of the transportation company’s stock worth $37,820,000 after purchasing an additional 116,012 shares during the period. Cibc World Market Inc. lifted its holdings in Forward Air by 3.8% during the 4th quarter. Cibc World Market Inc. now owns 784,731 shares of the transportation company’s stock worth $19,618,000 after buying an additional 28,693 shares in the last quarter. Bank of America Corp DE lifted its holdings in Forward Air by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 611,316 shares of the transportation company’s stock worth $15,002,000 after buying an additional 121,190 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Forward Air by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 531,614 shares of the transportation company’s stock worth $13,293,000 after buying an additional 11,849 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

FWRD has been the topic of a number of research reports. Stifel Nicolaus set a $17.00 target price on shares of Forward Air in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a report on Tuesday, April 21st. Finally, Susquehanna reduced their target price on shares of Forward Air from $42.00 to $18.00 and set a “positive” rating on the stock in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Forward Air has a consensus rating of “Hold” and a consensus price target of $17.50.

Forward Air Price Performance

Forward Air stock opened at $10.36 on Friday. The firm has a market cap of $327.58 million, a PE ratio of -3.54 and a beta of 1.41. Forward Air Corporation has a 52-week low of $7.86 and a 52-week high of $32.47. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 13.98. The company’s 50 day moving average is $15.30 and its two-hundred day moving average is $21.41.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Thursday, May 7th. The transportation company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.74). Forward Air had a negative net margin of 3.71% and a negative return on equity of 41.21%. The firm had revenue of $582.05 million during the quarter, compared to analyst estimates of $620.23 million. During the same quarter in the previous year, the business posted ($1.68) earnings per share. Forward Air’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, research analysts expect that Forward Air Corporation will post -1.08 EPS for the current fiscal year.

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.