Forward Air (NASDAQ:FWRD) Cut to Hold at BidaskClub
FWRD has been the subject of a number of other research reports. Robert W. Baird set a $75.00 price objective on Forward Air and gave the company a “buy” rating in a research note on Friday, October 25th. Zacks Investment Research upgraded Forward Air from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $76.00.
Shares of FWRD stock opened at $69.13 on Tuesday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 22.16 and a beta of 1.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.54 and a quick ratio of 1.54. The business has a fifty day moving average of $68.49 and a 200 day moving average of $62.41. Forward Air has a 1 year low of $51.54 and a 1 year high of $72.09.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. purchased a new position in shares of Forward Air during the 2nd quarter valued at about $30,000. Pathstone Family Office LLC purchased a new position in shares of Forward Air during the 2nd quarter valued at about $31,000. Advisory Services Network LLC raised its stake in shares of Forward Air by 70.8% during the 2nd quarter. Advisory Services Network LLC now owns 683 shares of the transportation company’s stock valued at $41,000 after buying an additional 283 shares during the last quarter. Signaturefd LLC raised its stake in shares of Forward Air by 3,767.7% during the 3rd quarter. Signaturefd LLC now owns 1,199 shares of the transportation company’s stock valued at $76,000 after buying an additional 1,168 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Forward Air by 3,740.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,229 shares of the transportation company’s stock valued at $73,000 after buying an additional 1,197 shares during the last quarter. Institutional investors and hedge funds own 95.75% 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 State and Canada. The company operates through four segments: Expedited Less-Than-Truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).
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