Robert W. Baird Cuts Forward Air (NASDAQ:FWRD) Price Target to $28.00

Forward Air (NASDAQ:FWRD) had its price target trimmed by Robert W. Baird from $32.00 to $28.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

A number of other equities analysts also recently commented on the company. Stifel Nicolaus increased their price objective on Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Benchmark restated a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. Finally, StockNews.com upgraded Forward Air to a “sell” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $37.00.

Forward Air Price Performance

Shares of FWRD opened at $22.47 on Thursday. The company has a market capitalization of $650.60 million, a price-to-earnings ratio of -0.94 and a beta of 1.03. Forward Air has a fifty-two week low of $11.21 and a fifty-two week high of $40.92. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The business’s 50-day moving average is $31.33 and its 200-day moving average is $33.42.

Institutional Investors Weigh In On Forward Air

A number of large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in Forward Air by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company’s stock worth $24,376,000 after purchasing an additional 79,960 shares during the period. Point72 Asset Management L.P. boosted its position in Forward Air by 742.9% during the fourth quarter. Point72 Asset Management L.P. now owns 463,600 shares of the transportation company’s stock worth $14,951,000 after purchasing an additional 408,600 shares during the period. Goldentree Asset Management LP bought a new stake in Forward Air during the third quarter worth approximately $14,270,000. Penn Capital Management Company LLC boosted its position in Forward Air by 17.9% during the fourth quarter. Penn Capital Management Company LLC now owns 380,947 shares of the transportation company’s stock worth $12,286,000 after purchasing an additional 57,854 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Forward Air during the fourth quarter worth approximately $11,140,000. Institutional investors own 97.03% of the company’s stock.

About Forward Air

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.