Forward Air (NASDAQ:FWRD) Trading Down 10.8% – Time to Sell?
by Danessa Lincoln · The Markets DailyForward Air Corporation (NASDAQ:FWRD – Get Free Report) traded down 10.8% during trading on Thursday . The stock traded as low as $26.97 and last traded at $26.5080. 348,826 shares changed hands during trading, a decline of 34% from the average session volume of 527,588 shares. The stock had previously closed at $29.72.
Analysts Set New Price Targets
FWRD has been the subject of several research reports. Jefferies Financial Group reissued a “buy” rating on shares of Forward Air in a research report on Thursday, November 6th. Zacks Research cut shares of Forward Air from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Stifel Nicolaus boosted their target price on shares of Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Forward Air in a research report on Thursday, January 22nd. Finally, Susquehanna boosted their price objective on Forward Air from $42.00 to $45.00 and gave the stock a “positive” rating in a report on Monday, January 5th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $35.00.
Get Our Latest Research Report on Forward Air
Forward Air Trading Down 8.7%
The company has a debt-to-equity ratio of 8.73, a current ratio of 1.20 and a quick ratio of 1.20. The firm’s fifty day moving average is $26.92 and its two-hundred day moving average is $25.85. The firm has a market capitalization of $847.45 million, a PE ratio of -7.04 and a beta of 1.35.
Hedge Funds Weigh In On Forward Air
Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in shares of Forward Air by 340.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 152,774 shares of the transportation company’s stock valued at $3,819,000 after acquiring an additional 118,062 shares during the last quarter. Counterpoint Mutual Funds LLC grew its stake in Forward Air by 6.7% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 20,198 shares of the transportation company’s stock valued at $505,000 after purchasing an additional 1,266 shares during the period. Swiss National Bank increased its position in shares of Forward Air by 2.9% during the 4th quarter. Swiss National Bank now owns 39,400 shares of the transportation company’s stock valued at $985,000 after purchasing an additional 1,100 shares during the last quarter. Deutsche Bank AG increased its position in shares of Forward Air by 780.4% during the 4th quarter. Deutsche Bank AG now owns 281,800 shares of the transportation company’s stock valued at $7,045,000 after purchasing an additional 249,791 shares during the last quarter. Finally, LPL Financial LLC raised its stake in shares of Forward Air by 1.5% during the 4th quarter. LPL Financial LLC now owns 43,228 shares of the transportation company’s stock worth $1,081,000 after purchasing an additional 655 shares during the period. 97.03% of the stock is owned by institutional investors.
About Forward Air
Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.
Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.