Brokerages Set Forward Air Co. (NASDAQ:FWRD) Target Price at $39.25

Shares of Forward Air Co. (NASDAQ:FWRD) have been given a consensus rating of “Hold” by the five research firms that are covering the company, MarketBeat Ratings reports. Four 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 objective among analysts that have issued ratings on the stock in the last year is $35.67.

Several research analysts have recently commented on FWRD shares. Stifel Nicolaus boosted 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. StockNews.com upgraded shares of Forward Air to a “sell” rating in a report on Wednesday, November 6th. Benchmark restated a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. Finally, 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.

Forward Air Trading Up 0.7 %

NASDAQ FWRD opened at $32.23 on Thursday. The business’s fifty day moving average is $33.51 and its 200-day moving average is $31.35. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market capitalization of $933.19 million, a price-to-earnings ratio of -1.35 and a beta of 1.04. Forward Air has a one year low of $11.21 and a one year high of $61.42.

Hedge Funds Weigh In On Forward Air

Several hedge funds have recently modified their holdings of FWRD. Goldentree Asset Management LP acquired a new stake in Forward Air in the 3rd quarter worth approximately $14,270,000. Verition Fund Management LLC lifted its stake in shares of Forward Air by 1,481.6% during the third quarter. Verition Fund Management LLC now owns 208,396 shares of the transportation company’s stock worth $7,377,000 after buying an additional 195,220 shares during the period. Weiss Asset Management LP lifted its stake in shares of Forward Air by 73.0% during the third quarter. Weiss Asset Management LP now owns 78,803 shares of the transportation company’s stock worth $2,790,000 after buying an additional 33,261 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in shares of Forward Air during the third quarter valued at $3,866,000. Finally, Paloma Partners Management Co acquired a new position in shares of Forward Air in the 3rd quarter valued at $901,000. Institutional investors and hedge funds 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.