Forward Air Corporation (FWRD) – What Are Brokerages Thinking About This Stock?

Forward Air Corporation (NASDAQ:FWRD) has received an average rating of “Hold” from the five research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $24.50.

Several analysts have recently commented on FWRD shares. Stifel Nicolaus decreased their target price on Forward Air from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. Weiss Ratings raised shares of Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. Wall Street Zen raised shares of Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Susquehanna dropped their target price on shares of Forward Air from $29.00 to $25.00 and set a “positive” rating for the company in a research note on Friday, October 2nd. Finally, Zacks Research lowered shares of Forward Air from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd.

Forward Air Stock Performance

NASDAQ FWRD opened at $15.14 on Wednesday. Forward Air has a one year low of $7.86 and a one year high of $31.17. The stock’s 50 day simple moving average is $16.08 and its 200 day simple moving average is $17.88.

Hedge Funds Weigh In On Forward Air

Several hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd bought a new position in shares of Forward Air in the 2nd quarter valued at about $406,000. Engineers Gate Manager LP lifted its holdings in Forward Air by 68.8% in the second quarter. Engineers Gate Manager LP now owns 76,646 shares of the transportation company’s stock valued at $1,035,000 after buying an additional 31,241 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Forward Air in the second quarter valued at approximately $28,000. Squarepoint Ops LLC boosted its stake in Forward Air by 12.7% in the second quarter. Squarepoint Ops LLC now owns 194,766 shares of the transportation company’s stock valued at $2,631,000 after acquiring an additional 21,908 shares during the last quarter. Finally, Corient Private Wealth LP bought a new position in Forward Air in the second quarter valued at approximately $175,000. Institutional investors own 97.03% of the company’s stock.

Forward Air Company Profile

Forward Air Corporation (NASDAQ: FWRD) is a transportation and logistics company that provides time-definite freight and supply chain services. Its offerings include expedited less-than-truckload transportation, truckload services, intermodal and drayage operations, final-mile delivery, and other logistics solutions designed for shipments requiring reliable transit times.

The company serves businesses across North America and supports domestic and international supply chains through a network of terminals, transportation partners, and logistics facilities.