Forward Air Co. (NASDAQ:FWRD) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its stake in Forward Air Co. (NASDAQ:FWRD) by 3.3% during the fourth quarter, HoldingsChannel.com reports. 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’s holdings in Forward Air were worth $1,040,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of FWRD. Byrne Asset Management LLC grew its holdings in shares of Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 590 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings 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 valued at $70,000 after buying an additional 763 shares in the last quarter. Quantinno Capital Management LP purchased a new position in shares of Forward Air during the third quarter valued at $224,000. LMR Partners LLP purchased a new position in shares of Forward Air during the third quarter valued at $232,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Forward Air during the third quarter valued at $298,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Price Performance

Shares of NASDAQ:FWRD opened at $27.98 on Monday. Forward Air Co. has a fifty-two week low of $11.21 and a fifty-two week high of $40.92. The business has a 50-day moving average of $31.92 and a two-hundred day moving average of $33.50. The stock has a market capitalization of $809.88 million, a P/E ratio of -1.17 and a beta of 1.03. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FWRD shares. Stifel Nicolaus lifted their price target on Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. StockNews.com raised Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Finally, Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.