Charles Schwab Investment Management Inc. Buys 28,669 Shares of Forward Air Co. (NASDAQ:FWRD)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 675,883 shares of the transportation company's stock after buying an additional 28,669 shares during the quarter. Charles Schwab Investment Management Inc. owned about 2.44% of Forward Air worth $23,926,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in shares of Forward Air during the 3rd quarter worth about $39,000. Point72 DIFC Ltd bought a new stake in Forward Air during the second quarter worth approximately $26,000. Gladius Capital Management LP boosted its position in Forward Air by 33.5% during the second quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company's stock worth $37,000 after purchasing an additional 493 shares during the period. Nisa Investment Advisors LLC grew its holdings in Forward Air by 62.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company's stock valued at $70,000 after purchasing an additional 763 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Forward Air by 2,329.3% in the second quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company's stock valued at $38,000 after purchasing an additional 1,910 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Forward Air Stock Performance

FWRD traded up $0.15 on Friday, hitting $33.91. 664,270 shares of the stock traded hands, compared to its average volume of 974,830. The business has a fifty day moving average price of $36.02 and a two-hundred day moving average price of $28.73. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The firm has a market capitalization of $981.83 million, a PE ratio of -1.42 and a beta of 1.02. Forward Air Co. has a 52 week low of $11.21 and a 52 week high of $67.20.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the company a "buy" rating in a research note on Friday, October 18th. StockNews.com upgraded Forward Air to a "sell" rating in a research note on Wednesday, November 6th. Benchmark restated a "hold" rating on shares of Forward Air in a research note on Monday, August 12th. Stifel Nicolaus lifted their price target on Forward Air from $31.00 to $36.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. Finally, Robert W. Baird increased their price objective on Forward Air from $17.00 to $24.00 and gave the company a "neutral" rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $39.25.

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.