Forward Air Co. (NASDAQ:FWRD) Given Average Rating of “Hold” by Brokerages

Shares of Forward Air Co. (NASDAQ:FWRDGet Free Report) have earned an average rating of “Hold” from the five ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $32.25.

A number of research firms recently commented on FWRD. Susquehanna decreased their price target 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. Stifel Nicolaus decreased their price target on 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, Robert W. Baird decreased their price target on Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th.

Check Out Our Latest Research Report on Forward Air

Forward Air Stock Up 4.7%

NASDAQ:FWRD opened at $20.40 on Friday. The company has a market capitalization of $620.63 million, a price-to-earnings ratio of -0.86 and a beta of 1.29. Forward Air has a one year low of $9.79 and a one year high of $40.92. The stock has a 50-day simple moving average of $16.50 and a 200 day simple moving average of $24.42. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21.

Hedge Funds Weigh In On Forward Air

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its position in shares of Forward Air by 812.5% during the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company’s stock worth $26,000 after buying an additional 715 shares during the period. Byrne Asset Management LLC boosted its position in shares of Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 590 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Forward Air during the fourth quarter worth approximately $72,000. AlphaQuest LLC boosted its position 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 worth $94,000 after buying an additional 1,782 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in shares of Forward Air during the fourth quarter worth approximately $138,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Forward Air Company Profile

(Get Free Report

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.

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Analyst Recommendations for Forward Air (NASDAQ:FWRD)

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