{"id":73833,"date":"2023-10-18T01:29:27","date_gmt":"2023-10-18T05:29:27","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/forward-airs-stock-driven-higher-after-activist-investor-says-stock-can-soar-more-than-80-if-shareholders-take-action\/"},"modified":"2023-10-18T01:29:29","modified_gmt":"2023-10-18T05:29:29","slug":"forward-airs-stock-driven-higher-after-activist-investor-says-stock-can-soar-more-than-80-if-shareholders-take-action","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=73833","title":{"rendered":"Forward Air\u2019s stock driven higher after activist investor says stock can soar more than 80% if shareholders take action"},"content":{"rendered":"
\n

Shares of Forward Air Corp.
\n FWRD,
\n +3.97%<\/bg-quote>
\n were driven up 4.8% in morning trading Tuesday, after activist investor Ancora Alternatives LLC said it believes the less-than-truckload and freight services company value could nearly double if shareholders take action. Ancora, which said it is a \u201ctop 5\u201d shareholder of Forward Air, said the stock can trade \u201cnorth of $100\u201d over the next six months, if shareholders vote down the cash-and-stock deal to buy Omni Logistics LLC announced on Aug. 10, then vote to replace the board of directors and management team. And over the intermediate term, those actions can lift the stock to the $140 to $145 range, which is about 80% to 86% above current levels. The stock had plunged 42.4% amid a six-day losing streak after the Omni deal was announced. Stifel had downgraded Forward\u2019s stock to hold from buy in the deal-announcement\u2019s wake, saying the deal price was \u201csubstantial\u201d and included \u201cmaterial equity dilution,\u201d and included \u201csizable\u201d execution risks. The stock has tumbled 25.7% year to date, while the Dow Jones Transportation Average
\n DJT,
\n +0.85%<\/bg-quote>
\n has climbed 13.4% and the Dow Jones Industrial Average
\n DJIA,
\n +0.04%<\/bg-quote>
\n has tacked on 2.8%.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Forward Air Corp. FWRD, +3.97% were driven up 4.8% in morning trading Tuesday, after activist investor Ancora Alternatives LLC said it believes the less-than-truckload and freight services company value could nearly double if shareholders take action. Ancora, which said it is a \u201ctop 5\u201d shareholder of Forward Air, said the stock can trade […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-73833","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nForward Air\u2019s stock driven higher after activist investor says stock can soar more than 80% if shareholders take action | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Forward Air Corp. 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