Forward Air Co. (NASDAQ:FWRD) Stock Position Reduced by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its position in shares of Forward Air Co. (NASDAQ:FWRD) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,260 shares of the transportation company’s stock after selling 1,100 shares during the period. New York State Teachers Retirement System owned about 0.11% of Forward Air worth $1,040,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in Forward Air by 688.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company’s stock worth $11,573,000 after buying an additional 285,465 shares during the last quarter. Goldentree Asset Management LP bought a new stake in shares of Forward Air in the 3rd quarter worth approximately $14,270,000. Verition Fund Management LLC lifted its holdings in shares of Forward Air by 1,481.6% in the 3rd quarter. Verition Fund Management LLC now owns 208,396 shares of the transportation company’s stock worth $7,377,000 after purchasing an additional 195,220 shares during the last quarter. Weiss Asset Management LP lifted its holdings in shares of Forward Air by 73.0% in the 3rd quarter. Weiss Asset Management LP now owns 78,803 shares of the transportation company’s stock worth $2,790,000 after purchasing an additional 33,261 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Forward Air in the 4th quarter worth approximately $11,140,000. Institutional investors own 97.03% of the company’s stock.

Forward Air Stock Down 7.8 %

Shares of Forward Air stock opened at $27.98 on Monday. The business’s fifty day moving average price is $31.92 and its two-hundred day moving average price is $33.50. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $809.88 million, a P/E ratio of -1.17 and a beta of 1.03. Forward Air Co. has a 1-year low of $11.21 and a 1-year high of $40.92.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Nicolaus raised their price target on Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Benchmark reissued a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. Finally, StockNews.com raised Forward Air to a “sell” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.67.

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.