Coe Capital Management Lowers stake in Forward Air Corporation (FWRD)

Forward Air Corporation (FWRD) : Coe Capital Management reduced its stake in Forward Air Corporation by 5.6% during the most recent quarter end. The investment management company now holds a total of 136,841 shares of Forward Air Corporation which is valued at $6,271,423 after selling 8,122 shares in Forward Air Corporation , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Forward Air Corporation makes up approximately 1.99% of Coe Capital Management’s portfolio.

Other Hedge Funds, Including , Us Financial Advisors sold out all of its stake in FWRD during the most recent quarter. The investment firm sold 15 shares of FWRD which is valued $687. Acrospire Investment Management added FWRD to its portfolio by purchasing 900 company shares during the most recent quarter which is valued at $41,904. Forward Air Corporation makes up approx 0.03% of Acrospire Investment Management’s portfolio.First Trust Advisors Lp boosted its stake in FWRD in the latest quarter, The investment management firm added 10,654 additional shares and now holds a total of 20,476 shares of Forward Air Corporation which is valued at $962,372.Gemmer Asset Management boosted its stake in FWRD in the latest quarter, The investment management firm added 19 additional shares and now holds a total of 56 shares of Forward Air Corporation which is valued at $2,631.

Forward Air Corporation opened for trading at $45.73 and hit $46.09 on the upside on Monday, eventually ending the session at $46.04, with a gain of 0.61% or 0.28 points. The heightened volatility saw the trading volume jump to 75,359 shares. Company has a market cap of $1,393 M.

On the company’s financial health, Forward Air Corporation reported $0.43 EPS for the quarter, based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus estimate of $0.43. The company had revenue of $229.50 million for the quarter, compared to analysts expectations of $228.71 million. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Forward Air Corporation. Company shares were Reiterated by Cowen on Jul 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 50 from a previous price target of $47 .Forward Air Corporation was Downgraded by BB&T Capital Mkts to ” Hold” on Jul 12, 2016. Company shares were Upgraded by RBC Capital Mkts on May 24, 2016 to ” Outperform”, Firm has raised the Price Target to $ 52 from a previous price target of $50 .

Forward Air Corporation is a provider of time-definite surface transportation and related logistics services to the North American air freight and expedited LTL market. The Company operates in three segments: Forward Air (Forward Air) Forward Air Solutions (FASI) and Total Quality (TQI). It also offers its customers an array of logistics and other services including expedited full truckload (TLX); dedicated fleets; warehousing; customs brokerage; and shipment consolidation deconsolidation and handling. It has a network of freight terminals located on or near airports in 87 the United States and Canadian cities including its central sorting facility in Columbus Ohio and 11 regional sort centers. Its customers include wholesale transportation community freight forwarders customs brokers and airlines. Its brands include Forward Air Inc. Roadfeeder Network Forward Air Forward Air Solutions Forward Air TLXSM Forward Air Complete PROUD and Total Quality Inc.

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