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

Shares of Forward Air Co. (NASDAQ:FWRD) have received an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $37.00.

Several equities analysts have issued reports on FWRD shares. Robert W. Baird decreased their price objective on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus lifted their price target on Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd.

Forward Air Trading Down 3.3 %

Shares of Forward Air stock opened at $20.50 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The company has a fifty day simple moving average of $30.94 and a 200-day simple moving average of $33.32. The stock has a market cap of $593.56 million, a price-to-earnings ratio of -0.86 and a beta of 1.08. Forward Air has a 12-month low of $11.21 and a 12-month high of $40.92.

Institutional Investors Weigh In On Forward Air

Hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. raised its stake in Forward Air by 742.9% during the 4th quarter. Point72 Asset Management L.P. now owns 463,600 shares of the transportation company’s stock valued at $14,951,000 after acquiring an additional 408,600 shares during the last quarter. Goldentree Asset Management LP purchased a new stake in shares of Forward Air during the third quarter worth approximately $14,270,000. Assenagon Asset Management S.A. acquired a new stake in shares of Forward Air during the fourth quarter worth $11,140,000. JPMorgan Chase & Co. lifted its holdings in shares of Forward Air by 688.6% during the third quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company’s stock worth $11,573,000 after purchasing an additional 285,465 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Forward Air in the 4th quarter valued at $9,198,000. Institutional investors and hedge funds 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.