Forward Air Co. (NASDAQ:FWRD) Given Average Rating of “Hold” by Brokerages

by · The Markets Daily

Shares of Forward Air Co. (NASDAQ:FWRD – Get Free Report) have received an average rating of “Hold” from the five ratings firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $39.25.

FWRD has been the subject of a number of analyst reports. Robert W. Baird upped their target price on Forward Air from $17.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. 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. Stifel Nicolaus boosted their target price 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. Benchmark restated a “hold” rating on shares of Forward Air in a report on Monday, August 12th. Finally, StockNews.com raised shares of Forward Air to a “sell” rating in a research report on Wednesday, November 6th.

Read Our Latest Analysis on Forward Air

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd acquired a new position in shares of Forward Air in the 2nd quarter valued at $26,000. Gladius Capital Management LP increased 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 during the period. GAMMA Investing LLC lifted its holdings in shares of Forward Air by 2,329.3% during the second quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock worth $38,000 after purchasing an additional 1,910 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Forward Air during the third quarter worth about $39,000. Finally, Nisa Investment Advisors LLC boosted its position 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 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 Stock Performance

FWRD stock opened at $36.03 on Wednesday. Forward Air has a 1-year low of $11.21 and a 1-year high of $67.20. The business has a 50-day moving average price of $36.18 and a 200 day moving average price of $27.78. The company has a market capitalization of $1.04 billion, a P/E ratio of -1.46 and a beta of 1.02. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

Forward Air Company Profile

(Get Free Report

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.

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