Royce Associates Lp Lowers stake in Forward Air Corporation (FWRD)

Forward Air Corporation (FWRD) : Royce Associates Lp reduced its stake in Forward Air Corporation by 4.03% during the most recent quarter end. The investment management company now holds a total of 2,070,278 shares of Forward Air Corporation which is valued at $95,501,924 after selling 87,000 shares in Forward Air Corporation , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Forward Air Corporation makes up approximately 0.59% of Royce Associates Lp’s portfolio.

Other Hedge Funds, Including , 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.Public Employees Retirement Association Of Colorado reduced its stake in FWRD by selling 2,571 shares or 24.55% in the most recent quarter. The Hedge Fund company now holds 7,900 shares of FWRD which is valued at $365,612.Moody Aldrich Partners boosted its stake in FWRD in the latest quarter, The investment management firm added 24,930 additional shares and now holds a total of 32,070 shares of Forward Air Corporation which is valued at $1,481,313. Forward Air Corporation makes up approx 1.18% of Moody Aldrich Partners’s portfolio.New York State Teachers Retirement System reduced its stake in FWRD by selling 300 shares or 0.31% in the most recent quarter. The Hedge Fund company now holds 97,554 shares of FWRD which is valued at $4,583,087. Forward Air Corporation makes up approx 0.01% of New York State Teachers Retirement System’s portfolio.

Forward Air Corporation opened for trading at $45.89 and hit $46.45 on the upside on Monday, eventually ending the session at $45.93, with a gain of 0.22% or 0.1 points. The heightened volatility saw the trading volume jump to 67,933 shares. Company has a market cap of $1,390 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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