Alliancebernstein L.P. Sells 2,420 Shares of Forward Air Co. (NASDAQ:FWRD)

Alliancebernstein L.P. decreased its holdings in Forward Air Co. (NASDAQ:FWRD) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,067 shares of the transportation company’s stock after selling 2,420 shares during the period. Alliancebernstein L.P. owned about 0.11% of Forward Air worth $1,066,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. purchased a new position in shares of Forward Air during the third quarter valued at $325,000. JPMorgan Chase & Co. increased its holdings in Forward Air by 688.6% during the third quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company’s stock valued at $11,573,000 after buying an additional 285,465 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Forward Air during the fourth quarter worth $11,140,000. Sugar Maple Asset Management LLC boosted its position in Forward Air by 24.4% during the fourth quarter. Sugar Maple Asset Management LLC now owns 20,900 shares of the transportation company’s stock valued at $674,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of Forward Air by 9.5% in the 4th quarter. Inspire Investing LLC now owns 12,601 shares of the transportation company’s stock valued at $406,000 after buying an additional 1,088 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Robert W. Baird dropped their price target on Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus dropped their price target on Forward Air from $29.00 to $22.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. Finally, Susquehanna reduced their price target on Forward Air from $35.00 to $32.00 and set a “positive” rating for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.25.

Forward Air Trading Up 6.6 %

Shares of Forward Air stock opened at $15.63 on Friday. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The stock’s 50 day simple moving average is $20.59 and its 200-day simple moving average is $29.51. The stock has a market cap of $475.20 million, a P/E ratio of -0.66 and a beta of 1.11. Forward Air Co. has a 1-year low of $9.79 and a 1-year high of $40.92.

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.