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

Forward Air Corporation (NASDAQ:FWRD) has earned an average rating of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $28.00.

A number of research analysts have recently commented on FWRD shares. Susquehanna upped their price target on Forward Air from $18.00 to $29.00 and gave the company a “positive” rating in a research report on Thursday. Weiss Ratings raised Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Wall Street Zen upgraded Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research raised shares of Forward Air from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, Stifel Nicolaus increased their target price on shares of 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 Price Performance

Shares of NASDAQ FWRD opened at $20.20 on Friday. The stock has a fifty day simple moving average of $14.33 and a two-hundred day simple moving average of $17.66. Forward Air has a 1-year low of $7.86 and a 1-year high of $32.00. The firm has a market cap of $638.72 million, a price-to-earnings ratio of -2.27 and a beta of 1.36. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 13.98.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FWRD. Garton & Associates Financial Advisors LLC bought a new stake in Forward Air during the 4th quarter valued at $36,000. Allied Private Wealth LLC bought a new position in shares of Forward Air in the second quarter worth $57,000. Tower Research Capital LLC TRC boosted its holdings in shares of 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 acquiring an additional 1,753 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Forward Air in the fourth quarter valued at $74,000. Finally, Fifth Third Bancorp grew its position in shares of Forward Air by 2,397.7% in the first quarter. Fifth Third Bancorp now owns 5,495 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 5,275 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Forward Air Company Profile

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.