Susquehanna Lowers Forward Air (NASDAQ:FWRD) Price Target to $32.00

Forward Air (NASDAQ:FWRD) had its price objective reduced by equities researchers at Susquehanna from $35.00 to $32.00 in a report issued on Monday,Benzinga reports. The firm currently has a “positive” rating on the transportation company’s stock. Susquehanna’s target price would suggest a potential upside of 54.44% from the company’s current price.

A number of other equities research analysts have also weighed in on FWRD. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. Stifel Nicolaus boosted their price target on Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Finally, Robert W. Baird lowered their price objective on Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.75.

Forward Air Price Performance

Shares of NASDAQ FWRD opened at $20.72 on Monday. The company has a market capitalization of $629.95 million, a price-to-earnings ratio of -0.87 and a beta of 1.08. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. Forward Air has a 1-year low of $11.21 and a 1-year high of $40.92. The business has a 50-day moving average of $26.73 and a 200-day moving average of $31.89.

Institutional Investors Weigh In On Forward Air

Institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC acquired a new position in Forward Air in the third quarter valued at approximately $437,000. Charles Schwab Investment Management Inc. boosted its position in Forward Air by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 675,883 shares of the transportation company’s stock valued at $23,926,000 after purchasing an additional 28,669 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Forward Air during the 3rd quarter valued at approximately $298,000. Quantbot Technologies LP bought a new position in Forward Air during the 3rd quarter worth $813,000. Finally, BNP Paribas Financial Markets increased its position in Forward Air by 2,430.4% in the third quarter. BNP Paribas Financial Markets now owns 132,846 shares of the transportation company’s stock worth $4,703,000 after buying an additional 127,596 shares during the period. 97.03% of the stock is currently owned by institutional investors.

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.