Forward Air Co. (NASDAQ:FWRD) has received an average rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $55.33.
Several research analysts have issued reports on FWRD shares. BidaskClub lowered Forward Air from a “hold” rating to a “sell” rating in a research note on Saturday. Cowen reiterated a “market perform” rating and set a $54.00 price objective (up from $51.00) on shares of Forward Air in a research note on Monday, October 30th. Zacks Investment Research lowered Forward Air from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Stifel Nicolaus increased their price objective on Forward Air from $47.00 to $52.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Finally, KeyCorp reiterated a “hold” rating on shares of Forward Air in a research note on Friday, September 22nd.
Shares of Forward Air (FWRD) traded up $2.08 during midday trading on Tuesday, hitting $60.20. The company had a trading volume of 555,700 shares, compared to its average volume of 192,300. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1,730.36, a price-to-earnings ratio of 28.26 and a beta of 1.18. Forward Air has a twelve month low of $45.86 and a twelve month high of $60.61.
In other news, insider Chris C. Ruble sold 23,020 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $57.75, for a total transaction of $1,329,405.00. Following the sale, the insider now owns 28,279 shares in the company, valued at $1,633,112.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George M. Lynch sold 1,640 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $57.00, for a total value of $93,480.00. Following the sale, the director now owns 12,383 shares in the company, valued at approximately $705,831. The disclosure for this sale can be found here. Insiders have sold 93,549 shares of company stock valued at $5,250,836 over the last quarter. Corporate insiders own 2.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in FWRD. Cambiar Investors LLC bought a new stake in shares of Forward Air during the third quarter worth $8,421,000. Victory Capital Management Inc. boosted its holdings in Forward Air by 12.5% in the third quarter. Victory Capital Management Inc. now owns 1,255,469 shares of the transportation company’s stock valued at $71,850,000 after acquiring an additional 139,363 shares during the last quarter. AHL Partners LLP boosted its holdings in Forward Air by 358.3% in the second quarter. AHL Partners LLP now owns 95,269 shares of the transportation company’s stock valued at $5,076,000 after acquiring an additional 74,480 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Forward Air by 93.2% in the second quarter. Alliancebernstein L.P. now owns 86,110 shares of the transportation company’s stock valued at $4,588,000 after acquiring an additional 41,540 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Forward Air by 16.1% in the third quarter. Russell Investments Group Ltd. now owns 201,353 shares of the transportation company’s stock valued at $11,524,000 after acquiring an additional 27,969 shares during the last quarter. Institutional investors own 95.70% of the company’s stock.
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Forward Air Company Profile
Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.
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