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

Shares of Forward Air Co. (NASDAQ:FWRD) have been given an average recommendation of “Hold” by the five brokerages that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $37.00.

A number of research analysts recently commented on FWRD shares. Stifel Nicolaus increased their price target on Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. Finally, Robert W. Baird cut their price target on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th.

Institutional Investors Weigh In On Forward Air

Institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings in Forward Air by 812.5% in the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company’s stock worth $26,000 after purchasing an additional 715 shares during the period. Byrne Asset Management LLC boosted its holdings in shares of Forward Air by 122.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 590 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Forward Air during the 4th quarter valued at about $72,000. AlphaQuest LLC raised its stake in Forward Air by 155.9% during the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock worth $94,000 after acquiring an additional 1,782 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in Forward Air in the fourth quarter worth about $138,000. 97.03% of the stock is currently owned by institutional investors.

Forward Air Stock Performance

Shares of FWRD stock opened at $21.70 on Tuesday. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The company’s fifty day moving average price is $27.76 and its two-hundred day moving average price is $32.22. The firm has a market capitalization of $628.30 million, a P/E ratio of -0.91 and a beta of 1.08. Forward Air has a 12 month low of $11.21 and a 12 month high of $40.92.

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.