Forward Air Co. (NASDAQ:FWRD) Given Consensus Rating of “Hold” by Analysts

Forward Air Co. (NASDAQ:FWRD) has been given a consensus recommendation of “Hold” by the five brokerages that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $35.67.

Several analysts recently weighed in on FWRD shares. Benchmark restated a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. Stifel Nicolaus increased their price objective on Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, StockNews.com upgraded shares of Forward Air to a “sell” rating in a research note on Wednesday, November 6th.

Institutional Trading of Forward Air

A number of institutional investors and hedge funds have recently modified their holdings of the company. Byrne Asset Management LLC boosted its stake in Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 590 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in Forward Air in the third quarter valued at about $39,000. Nisa Investment Advisors LLC raised its position in Forward Air by 62.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after purchasing an additional 763 shares in the last quarter. AlphaQuest LLC lifted its stake in Forward Air by 155.9% during the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock worth $94,000 after purchasing an additional 1,782 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Forward Air by 89.2% during 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 in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Forward Air Stock Up 0.1 %

Forward Air stock opened at $32.23 on Monday. The firm has a market cap of $933.06 million, a price-to-earnings ratio of -1.35 and a beta of 1.03. The firm has a fifty day moving average price of $32.57 and a two-hundred day moving average price of $33.02. Forward Air has a fifty-two week low of $11.21 and a fifty-two week high of $44.10. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

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.