Forward Air (NASDAQ:FWRD) Trading Down 10.8% – Should You Sell?

Forward Air Corporation (NASDAQ:FWRD) traded down 10.8% during trading on Thursday . The stock traded as low as $26.97 and last traded at $26.5080. 348,826 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 527,588 shares. The stock had previously closed at $29.72.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Susquehanna increased their target price on shares of Forward Air from $42.00 to $45.00 and gave the stock a “positive” rating in a report on Monday, January 5th. Zacks Research lowered shares of Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Forward Air in a research note on Thursday, January 22nd. Jefferies Financial Group restated a “buy” rating on shares of Forward Air in a research note on Thursday, November 6th. Finally, Stifel Nicolaus upped their target price on shares of Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Forward Air has an average rating of “Hold” and an average target price of $35.00.

Forward Air Stock Down 1.1%

The company has a market capitalization of $837.81 million, a PE ratio of -6.96 and a beta of 1.35. The company’s 50 day moving average is $26.97 and its two-hundred day moving average is $25.82. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 8.73.

Institutional Investors Weigh In On Forward Air

A number of hedge funds have recently made changes to their positions in FWRD. Kestra Advisory Services LLC purchased a new position in Forward Air during the 4th quarter valued at approximately $74,000. PSquared Asset Management AG grew its holdings in shares of Forward Air by 153.6% in the fourth quarter. PSquared Asset Management AG now owns 175,760 shares of the transportation company’s stock valued at $4,394,000 after purchasing an additional 106,460 shares in the last quarter. Headlands Technologies LLC increased its position in Forward Air by 65.0% in the fourth quarter. Headlands Technologies LLC now owns 14,860 shares of the transportation company’s stock worth $372,000 after purchasing an additional 5,855 shares during the last quarter. State Street Corp raised its stake in Forward Air by 2.1% during the fourth quarter. State Street Corp now owns 949,784 shares of the transportation company’s stock valued at $23,745,000 after purchasing an additional 19,854 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Forward Air by 6.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,478 shares of the transportation company’s stock valued at $1,037,000 after purchasing an additional 2,452 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other 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.