State Street Corp Cuts Stock Holdings in Forward Air Co. (NASDAQ:FWRD)

State Street Corp reduced its position in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 20.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 943,049 shares of the transportation company's stock after selling 246,357 shares during the period. State Street Corp owned approximately 3.26% of Forward Air worth $33,384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FWRD. Quantinno Capital Management LP bought a new position in Forward Air during the 3rd quarter worth approximately $224,000. Polar Asset Management Partners Inc. bought a new position in shares of Forward Air during the third quarter valued at approximately $3,866,000. Atom Investors LP bought a new stake in Forward Air in the third quarter worth $865,000. Bardin Hill Management Partners LP bought a new stake in Forward Air during the 3rd quarter valued at about $1,458,000. Finally, Paloma Partners Management Co bought a new position in Forward Air in the 3rd quarter valued at approximately $901,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Analyst Upgrades and Downgrades

FWRD has been the topic of several recent research reports. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the stock a "buy" rating in a research note on Friday, October 18th. StockNews.com upgraded shares of Forward Air to a "sell" rating in a report on Wednesday, November 6th. Finally, Stifel Nicolaus boosted their price target 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 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. Based on data from MarketBeat.com, Forward Air presently has a consensus rating of "Hold" and a consensus price target of $39.25.

Forward Air Trading Down 6.3 %

FWRD stock traded down $1.94 during mid-day trading on Friday, reaching $28.93. The company had a trading volume of 1,500,703 shares, compared to its average volume of 958,023. The company has a market capitalization of $837.64 million, a PE ratio of -1.21 and a beta of 1.02. The firm has a 50 day moving average of $35.28 and a 200 day moving average of $30.21. Forward Air Co. has a 12 month low of $11.21 and a 12 month high of $67.20. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

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.