Northern Trust Corp Has $9.52 Million Holdings in Forward Air Co. (NASDAQ:FWRD)

Northern Trust Corp lifted its position in Forward Air Co. (NASDAQ:FWRD - Free Report) by 17.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 295,226 shares of the transportation company's stock after buying an additional 43,567 shares during the period. Northern Trust Corp owned about 1.02% of Forward Air worth $9,521,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Forward Air by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock valued at $24,376,000 after buying an additional 79,960 shares in the last quarter. Penn Capital Management Company LLC raised its holdings in shares of Forward Air by 17.9% during the fourth quarter. Penn Capital Management Company LLC now owns 380,947 shares of the transportation company's stock worth $12,286,000 after acquiring an additional 57,854 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Forward Air during the fourth quarter worth $11,140,000. Adage Capital Partners GP L.L.C. bought a new stake in Forward Air in the 4th quarter valued at $9,198,000. Finally, New York State Common Retirement Fund boosted its stake in Forward Air by 17.2% in the 4th quarter. New York State Common Retirement Fund now owns 273,462 shares of the transportation company's stock worth $8,819,000 after purchasing an additional 40,176 shares during the period. Institutional investors own 97.03% of the company's stock.

Forward Air Stock Down 8.5%

NASDAQ:FWRD traded down $1.53 on Wednesday, hitting $16.51. 544,710 shares of the company's stock were exchanged, compared to its average volume of 837,961. The firm has a 50-day moving average price of $17.04 and a 200-day moving average price of $26.41. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. Forward Air Co. has a 52 week low of $9.79 and a 52 week high of $40.92. The company has a market cap of $502.28 million, a P/E ratio of -0.69 and a beta of 1.24.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FWRD. Robert W. Baird lowered their target price on Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Susquehanna decreased their price objective on Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a report on Monday, March 31st. Finally, Stifel Nicolaus cut their target price on Forward Air from $29.00 to $22.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Forward Air has an average rating of "Hold" and a consensus price target of $32.25.

Forward Air 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.