Robert W. Baird Cuts Forward Air (NASDAQ:FWRD) Price Target to $28.00

Forward Air (NASDAQ:FWRD) had its target price decreased by research analysts at Robert W. Baird from $32.00 to $28.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Robert W. Baird’s target price points to a potential upside of 24.73% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Stifel Nicolaus increased their price objective on Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Benchmark reiterated a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded Forward Air to a “sell” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $37.00.

Forward Air Stock Performance

Shares of FWRD stock opened at $22.45 on Thursday. Forward Air has a 12-month low of $11.21 and a 12-month high of $40.92. The firm has a market capitalization of $649.96 million, a price-to-earnings ratio of -0.94 and a beta of 1.03. The business has a 50 day simple moving average of $31.62 and a 200 day simple moving average of $33.46. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

Institutional Trading of Forward Air

Large investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its stake in shares of Forward Air by 812.5% in the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company’s stock worth $26,000 after acquiring an additional 715 shares during the last quarter. Byrne Asset Management LLC increased its stake in shares of Forward Air by 122.9% in the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock worth $35,000 after acquiring an additional 590 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Forward Air by 62.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after acquiring an additional 763 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Forward Air in the fourth quarter worth $72,000. Finally, AlphaQuest LLC increased its stake in shares of Forward Air by 155.9% in the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock worth $94,000 after acquiring an additional 1,782 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

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.