Franklin Resources Inc. Decreases Holdings in Forward Air Co. (NASDAQ:FWRD)

Franklin Resources Inc. lessened its stake in shares of Forward Air Co. (NASDAQ:FWRD) by 16.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FWRD. Anthracite Investment Company Inc. acquired a new position in Forward Air during the 4th quarter worth approximately $2,258,000. Fox Run Management L.L.C. purchased a new stake in shares of Forward Air in the fourth quarter valued at $300,000. KLP Kapitalforvaltning AS purchased a new position in Forward Air during the fourth quarter worth about $235,000. American Century Companies Inc. acquired a new stake in Forward Air during the fourth quarter worth about $317,000. Finally, Quantbot Technologies LP lifted its position in Forward Air by 66.0% during the 4th quarter. Quantbot Technologies LP now owns 38,114 shares of the transportation company’s stock worth $1,229,000 after acquiring an additional 15,158 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Price Performance

NASDAQ:FWRD 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 debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. Forward Air Co. has a one year low of $9.79 and a one year high of $40.92. The firm’s fifty day moving average price is $20.59 and its two-hundred day moving average price is $29.51.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FWRD shares. 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 report on Thursday, February 27th. Benchmark restated a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. Stifel Nicolaus cut 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 note on Thursday, April 10th. Finally, Susquehanna dropped their price objective on Forward Air from $35.00 to $32.00 and set a “positive” rating for the company in a research note 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.