Franklin Resources Inc. Has $246,000 Stock Position in Forward Air Co. (NASDAQ:FWRD)

Franklin Resources Inc. lessened its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 16.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,640 shares of the transportation company’s stock after selling 1,480 shares during the period. Franklin Resources Inc.’s holdings in Forward Air were worth $246,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FWRD. Byrne Asset Management LLC grew its holdings in Forward Air by 122.9% during the 4th 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. AlphaQuest LLC lifted its holdings in shares of Forward Air by 155.9% during the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock valued at $94,000 after purchasing an additional 1,782 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Forward Air during the 4th quarter valued at $235,000. Wolverine Asset Management LLC lifted its holdings in shares of Forward Air by 129.6% during the 4th quarter. Wolverine Asset Management LLC now owns 8,565 shares of the transportation company’s stock valued at $276,000 after buying an additional 37,461 shares during the period. Finally, Amundi increased its stake in shares of Forward Air by 149.0% in the 4th quarter. Amundi now owns 9,257 shares of the transportation company’s stock worth $296,000 after purchasing an additional 5,540 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Forward Air Stock Performance

Shares of FWRD stock opened at $15.63 on Friday. The company has a market cap of $475.20 million, a P/E ratio of -0.66 and a beta of 1.11. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air Co. has a 12 month low of $9.79 and a 12 month high of $40.92. The firm has a fifty day moving average price of $20.59 and a 200 day moving average price of $29.51.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FWRD. Susquehanna dropped their target price on shares of 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 dropped their target price on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Stifel Nicolaus decreased their target price on shares of Forward Air from $29.00 to $22.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Finally, Benchmark reaffirmed a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus 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.