Sugar Maple Asset Management LLC Acquires 2,100 Shares of Forward Air Co. (NASDAQ:FWRD)

Sugar Maple Asset Management LLC grew its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 14.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 16,800 shares of the transportation company’s stock after acquiring an additional 2,100 shares during the period. Sugar Maple Asset Management LLC’s holdings in Forward Air were worth $595,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Northwest Investment Counselors LLC acquired a new stake in Forward Air in the third quarter valued at $39,000. Point72 DIFC Ltd bought a new stake in shares of Forward Air in the 2nd quarter valued at about $26,000. Gladius Capital Management LP raised its position in shares of Forward Air by 33.5% during the second quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock worth $37,000 after acquiring an additional 493 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Forward Air by 62.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after acquiring an additional 763 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Forward Air by 2,329.3% in the second quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 1,910 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on FWRD. StockNews.com upgraded shares of Forward Air to a “sell” rating in a report on Wednesday, November 6th. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. Jefferies Financial Group set a $47.00 price objective on Forward Air and gave the stock a “buy” rating in a research report on Friday, October 18th. Robert W. Baird raised their target price on Forward Air from $17.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus boosted their price target on Forward Air from $31.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $39.25.

Forward Air Stock Performance

FWRD stock opened at $34.52 on Friday. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.33. The company’s 50-day moving average is $36.05 and its 200-day moving average is $27.13. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $67.20.

About Forward Air

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.