Forward Air’s (FWRD) Hold Rating Reiterated at Benchmark

Forward Air (NASDAQ:FWRD)‘s stock had its “hold” rating reaffirmed by stock analysts at Benchmark in a research report issued to clients and investors on Tuesday,Benzinga reports.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus lifted their target price on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, StockNews.com raised Forward Air to a “sell” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned 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 $39.25.

Forward Air Stock Down 2.5 %

Shares of NASDAQ:FWRD opened at $32.55 on Tuesday. Forward Air has a 12-month low of $11.21 and a 12-month high of $64.33. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The stock’s 50-day moving average price is $33.83 and its 200-day moving average price is $31.07. The stock has a market capitalization of $942.45 million, a P/E ratio of -1.37 and a beta of 1.04.

Hedge Funds Weigh In On Forward Air

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Clearlake Capital Group L.P. raised its position in Forward Air by 255.2% in the 2nd quarter. Clearlake Capital Group L.P. now owns 3,825,000 shares of the transportation company’s stock worth $72,828,000 after buying an additional 2,747,994 shares during the last quarter. MFN Partners Management LP bought a new position in shares of Forward Air during the 2nd quarter valued at approximately $17,208,000. Federated Hermes Inc. raised its holdings in Forward Air by 712.5% during the 2nd quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock valued at $12,965,000 after buying an additional 597,120 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Forward Air by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 675,883 shares of the transportation company’s stock worth $23,926,000 after buying an additional 28,669 shares during the last quarter. Finally, Goldentree Asset Management LP purchased a new position in Forward Air during the third quarter worth $14,270,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.