Forward Air Co. (NASDAQ:FWRD) Receives Average Recommendation of “Hold” from Analysts

Shares of Forward Air Co. (NASDAQ:FWRD) have been given a consensus rating of “Hold” by the five research firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $39.25.

FWRD has been the subject of a number of recent analyst reports. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the company a “buy” rating in a research report on Friday, October 18th. StockNews.com upgraded Forward Air to a “sell” rating in a report on Wednesday, November 6th. Finally, Stifel Nicolaus lifted their price objective on Forward Air from $31.00 to $36.00 and gave the company a “hold” rating in a report on Monday, October 21st.

Institutional Trading of Forward Air

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd bought a new position in shares of Forward Air during the second quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new position in Forward Air during the 3rd quarter worth approximately $39,000. Nisa Investment Advisors LLC grew its stake in shares of Forward Air by 62.2% during the 3rd 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 in the last quarter. GAMMA Investing LLC raised its holdings in shares of Forward Air by 89.2% in the third quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock valued at $133,000 after purchasing an additional 1,776 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Forward Air by 33.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,218 shares of the transportation company’s stock worth $137,000 after purchasing an additional 1,803 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Stock Performance

NASDAQ FWRD opened at $32.84 on Friday. The company’s fifty day moving average is $35.84 and its two-hundred day moving average is $29.71. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $950.85 million, a price-to-earnings ratio of -1.38 and a beta of 1.02. Forward Air has a 52-week low of $11.21 and a 52-week high of $67.20.

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.