Forward Air (NASDAQ:FWRD) Shares Down 3.1% – What’s Next?

Forward Air Co. (NASDAQ:FWRD) shares fell 3.1% during mid-day trading on Friday . The stock traded as low as $29.63 and last traded at $29.91. 335,301 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 953,213 shares. The stock had previously closed at $30.87.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FWRD shares. 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. StockNews.com raised shares of Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus increased their target price on Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $39.25.

Forward Air Stock Performance

The firm has a market capitalization of $837.64 million, a P/E ratio of -1.21 and a beta of 1.02. The stock has a fifty day simple moving average of $35.28 and a two-hundred day simple moving average of $30.13. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

Hedge Funds Weigh In On Forward Air

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Forward Air during the 2nd quarter valued at $220,000. Louisiana State Employees Retirement System increased its stake in shares of Forward Air by 3.9% in the second quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the transportation company’s stock worth $303,000 after buying an additional 600 shares during the period. Bfsg LLC raised its stake in shares of Forward Air by 21.4% during the second quarter. Bfsg LLC now owns 10,096 shares of the transportation company’s stock valued at $192,000 after acquiring an additional 1,783 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Forward Air by 33.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,218 shares of the transportation company’s stock worth $137,000 after buying an additional 1,803 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Forward Air by 2.1% in the second quarter. Rhumbline Advisers now owns 89,457 shares of the transportation company’s stock valued at $1,703,000 after acquiring an additional 1,828 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.