New York State Common Retirement Fund Has $5.92 Million Stock Holdings in Forward Air Corporation (NASDAQ:FWRD)

New York State Common Retirement Fund raised its holdings in Forward Air Corporation (NASDAQ:FWRD - Free Report) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 294,682 shares of the transportation company's stock after buying an additional 21,220 shares during the period. New York State Common Retirement Fund owned 0.97% of Forward Air worth $5,920,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FWRD. Sterling Capital Management LLC boosted its holdings in shares of Forward Air by 812.5% in the 4th quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company's stock valued at $26,000 after buying an additional 715 shares during the last quarter. Byrne Asset Management LLC increased its stake in shares of Forward Air by 81.3% during the 1st quarter. Byrne Asset Management LLC now owns 1,940 shares of the transportation company's stock worth $39,000 after purchasing an additional 870 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Forward Air in the 4th quarter valued at about $72,000. Aquatic Capital Management LLC acquired a new stake in Forward Air in the 4th quarter valued at about $138,000. Finally, Quantinno Capital Management LP grew its holdings in Forward Air by 9.7% during the fourth quarter. Quantinno Capital Management LP now owns 6,949 shares of the transportation company's stock worth $224,000 after purchasing an additional 615 shares during the period. 97.03% of the stock is owned by institutional investors.

Forward Air Stock Performance

Shares of NASDAQ FWRD traded up $0.80 during trading hours on Thursday, reaching $31.25. 872,745 shares of the stock were exchanged, compared to its average volume of 558,424. The firm has a market capitalization of $950.63 million, a price-to-earnings ratio of -1.08 and a beta of 1.41. The stock's fifty day simple moving average is $22.56 and its 200 day simple moving average is $22.96. The company has a debt-to-equity ratio of 7.55, a quick ratio of 1.13 and a current ratio of 1.13. Forward Air Corporation has a 52 week low of $9.78 and a 52 week high of $40.92.

Analysts Set New Price Targets

FWRD has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on Forward Air from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen raised Forward Air from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Susquehanna dropped their price objective on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a research report on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $35.00.

About Forward Air

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.