Brokerages Set Forward Air Co. (NASDAQ:FWRD) Target Price at $35.67

Forward Air Co. (NASDAQ:FWRD) has been given a consensus rating of “Hold” by the five analysts that are presently covering the company, 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 12 month price objective among analysts that have issued ratings on the stock in the last year is $35.67.

FWRD has been the topic of several research analyst reports. StockNews.com raised Forward Air to a “sell” rating in a report on Wednesday, November 6th. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the stock a “buy” rating in a research report on Friday, October 18th. Benchmark reiterated a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. Finally, 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 report on Thursday, January 23rd.

Forward Air Stock Up 0.5 %

Shares of FWRD stock opened at $31.63 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The stock has a 50 day moving average of $32.74 and a 200 day moving average of $32.87. Forward Air has a twelve month low of $11.21 and a twelve month high of $44.70. The stock has a market cap of $915.69 million, a P/E ratio of -1.33 and a beta of 1.03.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in Forward Air by 89.2% during the 3rd quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock worth $133,000 after purchasing an additional 1,776 shares during the period. Creative Planning grew its holdings in Forward Air by 6.0% during the 3rd quarter. Creative Planning now owns 19,885 shares of the transportation company’s stock worth $704,000 after acquiring an additional 1,129 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in Forward Air during the 3rd quarter worth approximately $39,000. Nisa Investment Advisors LLC increased its position in shares of Forward Air by 62.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock valued at $70,000 after purchasing an additional 763 shares during the last quarter. Finally, Sugar Maple Asset Management LLC raised its holdings in shares of Forward Air by 14.3% in the 3rd quarter. Sugar Maple Asset Management LLC now owns 16,800 shares of the transportation company’s stock valued at $595,000 after purchasing an additional 2,100 shares in 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.