Invesco Ltd. Has $6.14 Million Stake in Forward Air Co. (NASDAQ:FWRD)

Invesco Ltd. lessened its stake in Forward Air Co. (NASDAQ:FWRD - Free Report) by 37.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 190,377 shares of the transportation company's stock after selling 113,597 shares during the period. Invesco Ltd. owned about 0.66% of Forward Air worth $6,140,000 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. Assenagon Asset Management S.A. acquired a new position in shares of Forward Air in the 4th quarter valued at $11,140,000. JPMorgan Chase & Co. grew its holdings in shares of 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 purchasing an additional 285,465 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Forward Air by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock worth $24,376,000 after purchasing an additional 79,960 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in Forward Air during the 4th quarter valued at about $2,487,000. Finally, Anthracite Investment Company Inc. bought a new position in Forward Air during the 4th quarter valued at about $2,258,000. 97.03% of the stock is currently owned by institutional investors.

Forward Air Stock Down 2.0 %

Shares of NASDAQ FWRD traded down $0.29 during mid-day trading on Tuesday, reaching $14.23. 402,938 shares of the company's stock were exchanged, compared to its average volume of 879,532. 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 business has a fifty day simple moving average of $18.71 and a 200 day simple moving average of $28.54. Forward Air Co. has a twelve month low of $9.79 and a twelve month high of $40.92. The firm has a market capitalization of $432.63 million, a price-to-earnings ratio of -0.60 and a beta of 1.11.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FWRD. Susquehanna cut their price objective on Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a research report on Monday, March 31st. Robert W. Baird decreased their price objective on Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Benchmark reiterated a "hold" rating on shares of Forward Air in a report on Tuesday, January 7th. Finally, Stifel Nicolaus cut their target price on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Forward Air presently has a consensus rating of "Hold" and an average target price of $32.25.

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.