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

Benchmark reiterated their hold rating on shares of Forward Air (NASDAQ:FWRD) in a report published on Tuesday,Benzinga reports.

FWRD has been the topic of a number of other reports. Jefferies Financial Group set a $47.00 price objective on Forward Air and gave the company a “buy” rating in a research report on Friday, October 18th. StockNews.com raised Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus raised their price target on Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.25.

Forward Air Stock Performance

Forward Air stock opened at $32.01 on Tuesday. The company’s 50-day moving average price is $33.55 and its 200-day moving average price is $31.17. 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 has a market cap of $926.82 million, a PE ratio of -1.34 and a beta of 1.04. Forward Air has a twelve month low of $11.21 and a twelve month high of $63.63.

Institutional Investors Weigh In On Forward Air

Several hedge funds and other institutional investors have recently modified their holdings of FWRD. Nisa Investment Advisors LLC increased its stake 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 during the period. Northwest Investment Counselors LLC bought a new position in shares of Forward Air in the third quarter worth about $39,000. Creative Planning increased its stake in Forward Air by 6.0% in the 3rd quarter. Creative Planning now owns 19,885 shares of the transportation company’s stock worth $704,000 after buying an additional 1,129 shares during the period. Point72 DIFC Ltd bought a new stake in Forward Air during the 2nd quarter valued at about $26,000. Finally, American Century Companies Inc. boosted its position in Forward Air by 3.3% in the 2nd quarter. American Century Companies Inc. now owns 45,734 shares of the transportation company’s stock valued at $871,000 after buying an additional 1,478 shares during the period. 97.03% of the stock is currently owned by hedge funds and other 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.