JPMorgan Chase & Co. Increases Position in Forward Air Co. (NASDAQ:FWRD)

JPMorgan Chase & Co. raised its holdings in Forward Air Co. (NASDAQ:FWRD - Free Report) by 688.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 326,921 shares of the transportation company's stock after purchasing an additional 285,465 shares during the quarter. JPMorgan Chase & Co. owned about 1.13% of Forward Air worth $11,573,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new position in shares of Forward Air during the second quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Forward Air during the third quarter worth about $39,000. Nisa Investment Advisors LLC increased its stake in shares of Forward Air by 62.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company's stock worth $70,000 after acquiring an additional 763 shares during the period. GAMMA Investing LLC increased its stake in shares of Forward Air by 89.2% during the third quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company's stock worth $133,000 after acquiring an additional 1,776 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Forward Air during the second quarter worth about $181,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FWRD. Benchmark reiterated a "hold" rating on shares of Forward Air in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Forward Air to a "sell" rating in a research report on Wednesday, November 6th. Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the stock a "buy" rating in a research report on Friday, October 18th. Finally, Stifel Nicolaus upped their target price on shares of Forward Air from $31.00 to $36.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Forward Air has a consensus rating of "Hold" and a consensus price target of $35.67.

Forward Air Price Performance

FWRD traded up $2.13 on Monday, hitting $34.36. 723,687 shares of the company were exchanged, compared to its average volume of 506,884. Forward Air Co. has a fifty-two week low of $11.21 and a fifty-two week high of $61.42. The firm has a market capitalization of $994.86 million, a P/E ratio of -1.44 and a beta of 1.04. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The business's fifty day moving average is $33.51 and its 200 day moving average is $31.43.

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.