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

Shares of Forward Air Co. (NASDAQ:FWRD) have been given a consensus recommendation of “Hold” by the five research firms that are presently covering the stock, 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 twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $39.25.

A number of brokerages have recently issued reports on FWRD. Robert W. Baird boosted their price target on shares of Forward Air from $17.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Stifel Nicolaus boosted their price objective on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the stock a “buy” rating in a report on Friday, October 18th. StockNews.com raised shares of Forward Air to a “sell” rating in a report on Wednesday, November 6th. Finally, Benchmark reissued a “hold” rating on shares of Forward Air in a report on Monday, August 12th.

Forward Air Trading Up 4.4 %

Shares of Forward Air stock opened at $34.47 on Wednesday. Forward Air has a 52-week low of $11.21 and a 52-week high of $67.20. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. The company’s 50-day simple moving average is $36.09 and its 200-day simple moving average is $27.34. The firm has a market cap of $997.91 million, a price-to-earnings ratio of -1.45 and a beta of 1.02.

Institutional Trading of Forward Air

Several institutional investors and hedge funds have recently modified their holdings of FWRD. Point72 DIFC Ltd purchased a new stake in shares of Forward Air in the second quarter valued at about $26,000. Gladius Capital Management LP lifted its holdings in shares of Forward Air by 33.5% in the second quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 493 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Forward Air by 2,329.3% in the second quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock valued at $38,000 after buying an additional 1,910 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Forward Air in the third quarter valued at approximately $39,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Forward Air by 62.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock valued at $70,000 after buying an additional 763 shares during the last quarter. 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.