Price T Rowe Associates Inc. MD Has $741,000 Position in Forward Air Co. (NASDAQ:FWRD)

Price T Rowe Associates Inc. MD increased its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,950 shares of the transportation company’s stock after purchasing an additional 1,524 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.08% of Forward Air worth $741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in Forward Air by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company’s stock valued at $24,376,000 after buying an additional 79,960 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Forward Air in the 4th quarter valued at $11,140,000. JPMorgan Chase & Co. boosted its stake in 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 period. New York State Common Retirement Fund increased its holdings in Forward Air by 17.2% during the 4th quarter. New York State Common Retirement Fund now owns 273,462 shares of the transportation company’s stock worth $8,819,000 after purchasing an additional 40,176 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Forward Air in the 4th quarter valued at about $6,290,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Forward Air Stock Performance

Shares of FWRD opened at $16.36 on Monday. The company has a market cap of $497.49 million, a PE ratio of -0.69 and a beta of 1.24. The firm has a 50-day moving average of $17.10 and a 200-day moving average of $27.21. Forward Air Co. has a one year low of $9.79 and a one year high of $40.92. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Robert W. Baird decreased their price objective on Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus decreased their price target on shares of Forward Air from $29.00 to $22.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Finally, Susquehanna lowered their price objective on shares of Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $32.25.

Forward Air Company 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.