Analysts Set Forward Air Co. (NASDAQ:FWRD) PT at $39.25

Shares of Forward Air Co. (NASDAQ:FWRD) have received an average rating of “Hold” from the five research firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $39.25.

Several brokerages recently commented on FWRD. Jefferies Financial Group set a $47.00 price target on shares of Forward Air and gave the stock a “buy” rating in a research report on Friday, October 18th. Stifel Nicolaus upped their price target on Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, StockNews.com raised Forward Air to a “sell” rating in a research note on Wednesday, November 6th.

Hedge Funds Weigh In On Forward Air

Several hedge funds have recently modified their holdings of the company. Franklin Resources Inc. bought a new stake in shares of Forward Air during the 3rd quarter worth $325,000. XTX Topco Ltd lifted its holdings in shares of Forward Air by 22.0% during the third quarter. XTX Topco Ltd now owns 19,549 shares of the transportation company’s stock valued at $692,000 after purchasing an additional 3,520 shares during the last quarter. Weiss Asset Management LP boosted its position in shares of Forward Air by 73.0% in the 3rd quarter. Weiss Asset Management LP now owns 78,803 shares of the transportation company’s stock valued at $2,790,000 after purchasing an additional 33,261 shares during the period. Quantinno Capital Management LP purchased a new position in Forward Air in the 3rd quarter worth about $224,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in Forward Air during the 3rd quarter worth about $3,866,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Forward Air Price Performance

Shares of NASDAQ:FWRD opened at $32.09 on Friday. Forward Air has a one year low of $11.21 and a one year high of $67.20. The stock has a market cap of $929.13 million, a PE ratio of -1.35 and a beta of 1.02. The business’s fifty day moving average price is $35.73 and its two-hundred day moving average price is $29.92. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21.

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.