Legato Capital Management LLC Makes New Investment in Forward Air Co. (NASDAQ:FWRD)

Legato Capital Management LLC purchased a new stake in Forward Air Co. (NASDAQ:FWRD) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 23,096 shares of the transportation company’s stock, valued at approximately $745,000. Legato Capital Management LLC owned 0.08% of Forward Air as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Byrne Asset Management LLC lifted its position in Forward Air by 122.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 590 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Forward Air in the 3rd quarter valued at about $39,000. Nisa Investment Advisors LLC lifted its holdings 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 valued at $70,000 after purchasing an additional 763 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of Forward Air during the third quarter worth about $224,000. Finally, LMR Partners LLP bought a new position in shares of Forward Air during the third quarter worth about $232,000. Institutional investors own 97.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Jefferies Financial Group set a $47.00 target price on Forward Air and gave the company a “buy” rating in a research note on Friday, October 18th. Stifel Nicolaus boosted their price objective on shares of Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Benchmark restated 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 research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.67.

Forward Air Trading Down 0.1 %

Shares of Forward Air stock opened at $30.30 on Friday. Forward Air Co. has a 12-month low of $11.21 and a 12-month high of $41.89. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. The business’s 50 day moving average is $32.29 and its 200-day moving average is $33.06. The stock has a market cap of $877.19 million, a P/E ratio of -1.27 and a beta of 1.03.

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.