Forward Air Co. (NASDAQ:FWRD) Given Average Rating of “Hold” by Analysts

Shares of Forward Air Co. (NASDAQ:FWRD) have received an average rating of “Hold” from the six analysts that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $35.75.

FWRD has been the topic of a number of recent analyst reports. Robert W. Baird lowered their price target on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Susquehanna reduced their price objective on Forward Air from $35.00 to $32.00 and set a “positive” rating for the company in a report on Monday. Stifel Nicolaus raised their price target on Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th.

Institutional Investors Weigh In On Forward Air

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Forward Air by 688.6% during the third quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company’s stock worth $11,573,000 after acquiring an additional 285,465 shares during the last quarter. Goldentree Asset Management LP acquired a new stake in shares of Forward Air during the third quarter worth $14,270,000. Verition Fund Management LLC grew its position in shares of Forward Air by 1,481.6% in the third quarter. Verition Fund Management LLC now owns 208,396 shares of the transportation company’s stock valued at $7,377,000 after purchasing an additional 195,220 shares during the period. Weiss Asset Management LP increased its stake in Forward Air by 73.0% in the third quarter. Weiss Asset Management LP now owns 78,803 shares of the transportation company’s stock valued at $2,790,000 after purchasing an additional 33,261 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Forward Air during the fourth quarter worth about $815,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Forward Air Stock Down 3.0 %

FWRD opened at $20.09 on Tuesday. The business has a 50 day simple moving average of $26.45 and a 200-day simple moving average of $31.79. Forward Air has a 12 month low of $11.21 and a 12 month high of $40.92. The stock has a market capitalization of $610.80 million, a P/E ratio of -0.84 and a beta of 1.08. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

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.