Forward Air (NASDAQ:FWRD) Given New $36.00 Price Target at Stifel Nicolaus

Forward Air (NASDAQ:FWRD) had its target price boosted by Stifel Nicolaus from $34.00 to $36.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a hold rating on the transportation company’s stock.

A number of other equities research analysts also recently weighed in on FWRD. Jefferies Financial Group set a $47.00 price target on shares of Forward Air and gave the company a “buy” rating in a report on Friday, October 18th. Benchmark reissued a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Forward Air to a “sell” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Forward Air presently has an average rating of “Hold” and an average price target of $35.67.

Forward Air Stock Down 2.0 %

FWRD opened at $33.46 on Thursday. The stock’s fifty day moving average is $33.17 and its 200-day moving average is $32.18. Forward Air has a one year low of $11.21 and a one year high of $50.53. The company has a market capitalization of $968.67 million, a PE ratio of -1.40 and a beta of 1.04. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. American Century Companies Inc. grew its position in Forward Air by 3.3% during the 2nd quarter. American Century Companies Inc. now owns 45,734 shares of the transportation company’s stock worth $871,000 after purchasing an additional 1,478 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Forward Air in the second quarter worth $305,000. Ensign Peak Advisors Inc grew its holdings in shares of Forward Air by 111.0% during the second quarter. Ensign Peak Advisors Inc now owns 19,297 shares of the transportation company’s stock valued at $367,000 after buying an additional 10,150 shares in the last quarter. Public Sector Pension Investment Board raised its position in Forward Air by 10.8% during the second quarter. Public Sector Pension Investment Board now owns 69,967 shares of the transportation company’s stock valued at $1,332,000 after buying an additional 6,846 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in Forward Air during the 2nd quarter worth about $26,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

About Forward Air

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.