Forward Air Corporation (NASDAQ:FWRD) Receives Average Rating of “Hold” from Brokerages

Shares of Forward Air Corporation (NASDAQ:FWRD) have earned an average rating of “Hold” from the five analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $26.00.

Several research analysts recently commented on FWRD shares. Weiss Ratings upgraded shares of Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. Stifel Nicolaus upped their target price on Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Susquehanna lowered their price target on Forward Air from $29.00 to $25.00 and set a “positive” rating on the stock in a research report on Friday. Zacks Research cut Forward Air from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Finally, Wall Street Zen upgraded Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th.

Institutional Trading of Forward Air

A number of large investors have recently added to or reduced their stakes in FWRD. Cibc World Market Inc. bought a new position in Forward Air during the second quarter worth about $14,485,000. Renaissance Technologies LLC acquired a new stake in shares of Forward Air in the first quarter valued at approximately $3,535,000. Dimensional Fund Advisors LP boosted its stake in shares of Forward Air by 108.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 318,858 shares of the transportation company’s stock worth $5,328,000 after acquiring an additional 166,084 shares during the period. AlpInvest Partners B.V. acquired a new position in shares of Forward Air during the 2nd quarter worth approximately $1,396,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Forward Air during the 2nd quarter valued at $846,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Trading Up 2.6%

NASDAQ:FWRD opened at $15.91 on Friday. Forward Air has a twelve month low of $7.86 and a twelve month high of $31.17. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 13.98. The business has a 50 day moving average price of $16.58 and a two-hundred day moving average price of $15.36. The company has a market cap of $503.15 million, a P/E ratio of -1.79 and a beta of 1.41.

Forward Air Company Profile

Forward Air Corporation (NASDAQ: FWRD) is a transportation and logistics company that provides time-definite, expedited freight and supply-chain services. Its operations support the movement of shipments that require reliable scheduling, specialized handling, or faster transit than traditional freight services.

The company’s service offerings include less-than-truckload transportation, truckload and intermodal services, final-mile delivery, freight forwarding, customs brokerage, warehousing, and related logistics solutions.