Silver Capital Management adds Forward Air Corporation (FWRD) to its portfolio

Forward Air Corporation (FWRD) : Silver Capital Management added new position in Forward Air Corporation during the most recent quarter end. The investment management firm now holds 18,790 shares of Forward Air Corporation which is valued at $865,280 , the company said in a statement filed on Aug 3, 2016 with the SEC.Forward Air Corporation makes up approximately 3.90% of Silver Capital Management’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in FWRD by selling 3,330 shares or 5.06% in the most recent quarter. The Hedge Fund company now holds 62,452 shares of FWRD which is valued at $2,875,915. Forward Air Corporation makes up approx 0.01% of California State Teachers Retirement System’s portfolio.Ngam Advisors boosted its stake in FWRD in the latest quarter, The investment management firm added 2,282 additional shares and now holds a total of 16,683 shares of Forward Air Corporation which is valued at $768,252. Forward Air Corporation makes up approx 0.01% of Ngam Advisors’s portfolio.Northwest Investment Counselors boosted its stake in FWRD in the latest quarter, The investment management firm added 114 additional shares and now holds a total of 13,406 shares of Forward Air Corporation which is valued at $629,814. Forward Air Corporation makes up approx 0.33% of Northwest Investment Counselors’s portfolio.

Forward Air Corporation closed down -0.44 points or -0.94% at $46.56 with 1,73,092 shares getting traded on Monday. Post opening the session at $47.01, the shares hit an intraday low of $46.18 and an intraday high of $47.09 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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