State of Alaska Department of Revenue Purchases 447 Shares of Forward Air Co. (NASDAQ:FWRD)

State of Alaska Department of Revenue boosted its stake in shares of Forward Air Co. (NASDAQ:FWRD) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,354 shares of the transportation company’s stock after buying an additional 447 shares during the period. State of Alaska Department of Revenue’s holdings in Forward Air were worth $366,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of FWRD. Nisa Investment Advisors LLC increased its holdings in Forward Air by 62.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock valued at $70,000 after buying an additional 763 shares in the last quarter. Inspire Investing LLC boosted its holdings in Forward Air by 9.5% in the 4th quarter. Inspire Investing LLC now owns 12,601 shares of the transportation company’s stock valued at $406,000 after purchasing an additional 1,088 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Forward Air in the 3rd quarter valued at approximately $39,000. Creative Planning increased its holdings in shares of Forward Air by 6.0% during the 3rd quarter. Creative Planning now owns 19,885 shares of the transportation company’s stock worth $704,000 after buying an additional 1,129 shares during the last quarter. Finally, Sugar Maple Asset Management LLC raised its position in shares of Forward Air by 14.3% during the 3rd quarter. Sugar Maple Asset Management LLC now owns 16,800 shares of the transportation company’s stock valued at $595,000 after buying an additional 2,100 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FWRD. Stifel Nicolaus increased 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 reiterated a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Forward Air to a “sell” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $35.67.

Forward Air Stock Up 1.1 %

Shares of NASDAQ FWRD opened at $30.63 on Friday. Forward Air Co. has a 52-week low of $11.21 and a 52-week high of $41.89. The business’s 50 day moving average is $32.23 and its two-hundred day moving average is $33.16. The firm has a market cap of $886.74 million, a price-to-earnings ratio of -1.29 and a beta of 1.03. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07.

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.