Forward Air Corporation (NASDAQ:FWRD) Given Average Rating of “Moderate Buy” by Analysts

Forward Air Corporation (NASDAQ:FWRD) has been given an average recommendation of “Moderate Buy” by the five ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $28.00.

Several brokerages recently issued reports on FWRD. Weiss Ratings lowered Forward Air from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. Susquehanna lifted their price objective on Forward Air from $18.00 to $29.00 and gave the stock a “positive” rating in a report on Thursday, August 13th. Zacks Research upgraded Forward Air from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Stifel Nicolaus raised their target price on Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th.

Forward Air Stock Performance

NASDAQ:FWRD opened at $17.00 on Tuesday. The firm’s 50-day moving average is $15.58 and its 200-day moving average is $16.76. The company has a market cap of $537.54 million, a price-to-earnings ratio of -1.91 and a beta of 1.36. The company has a debt-to-equity ratio of 13.98, a quick ratio of 1.32 and a current ratio of 1.32. Forward Air has a 52-week low of $7.86 and a 52-week high of $31.30.

Hedge Funds Weigh In On Forward Air

Hedge funds and other institutional investors have recently made changes to their positions in the business. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Forward Air during the 4th quarter valued at about $36,000. Tower Research Capital LLC TRC raised its position in Forward Air by 207.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock worth $64,000 after purchasing an additional 1,753 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Forward Air during the fourth quarter worth about $74,000. Allied Private Wealth LLC bought a new position in Forward Air during the second quarter worth about $57,000. Finally, Lazard Asset Management LLC acquired a new stake in Forward Air during the second quarter valued at approximately $107,000. 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.