Barclays PLC Reduces Position in Forward Air Co. (NASDAQ:FWRD)

Barclays PLC lowered its position in Forward Air Co. (NASDAQ:FWRD - Free Report) by 67.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,601 shares of the transportation company's stock after selling 147,508 shares during the quarter. Barclays PLC owned approximately 0.25% of Forward Air worth $2,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of FWRD. Franklin Resources Inc. purchased a new stake in Forward Air during the 3rd quarter valued at about $325,000. JPMorgan Chase & Co. grew its holdings in Forward Air by 688.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company's stock worth $11,573,000 after acquiring an additional 285,465 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Forward Air in the fourth quarter valued at about $11,140,000. Sugar Maple Asset Management LLC raised its stake in shares of Forward Air by 24.4% during the fourth quarter. Sugar Maple Asset Management LLC now owns 20,900 shares of the transportation company's stock valued at $674,000 after acquiring an additional 4,100 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in shares of Forward Air by 9.5% in the fourth quarter. Inspire Investing LLC now owns 12,601 shares of the transportation company's stock worth $406,000 after purchasing an additional 1,088 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FWRD shares. Susquehanna cut their price objective on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a research report on Monday, March 31st. Stifel Nicolaus decreased their price objective on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Robert W. Baird lowered their price objective on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Finally, Benchmark restated a "hold" rating on shares of Forward Air in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $32.25.

Forward Air Stock Down 3.9 %

Shares of FWRD traded down $0.69 during trading hours on Tuesday, hitting $16.75. The company had a trading volume of 519,080 shares, compared to its average volume of 884,316. Forward Air Co. has a 52-week low of $9.79 and a 52-week high of $40.92. The firm has a fifty day moving average price of $17.43 and a 200-day moving average price of $27.71. The stock has a market capitalization of $509.47 million, a price-to-earnings ratio of -0.70 and a beta of 1.24. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21.

Forward Air Company 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.