Forward Air (NASDAQ:FWRD) Shares Down 4.9% – Time to Sell?

Shares of Forward Air Co. (NASDAQ:FWRD) traded down 4.9% during mid-day trading on Monday . The company traded as low as $30.18 and last traded at $30.68. 397,372 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 493,242 shares. The stock had previously closed at $32.25.

Wall Street Analysts Forecast Growth

FWRD has been the topic of several research reports. StockNews.com raised Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Stifel Nicolaus boosted their price objective on shares of Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.67.

Forward Air Price Performance

The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $915.69 million, a P/E ratio of -1.33 and a beta of 1.03. The firm has a fifty day moving average price of $32.82 and a two-hundred day moving average price of $32.88.

Hedge Funds Weigh In On Forward Air

Several large investors have recently made changes to their positions in the business. Byrne Asset Management LLC grew its stake in Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 590 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in Forward Air during the third quarter worth approximately $39,000. Nisa Investment Advisors LLC raised its holdings in Forward Air by 62.2% during the 3rd 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 period. GAMMA Investing LLC raised its stake in shares of Forward Air by 89.2% in the third quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock valued at $133,000 after acquiring an additional 1,776 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in Forward Air in the third quarter worth about $224,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

About Forward Air

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.