Forward Air Corporation (NASDAQ:FWRD) Stock Has Consensus Price Target of $24.50

Forward Air Corporation (NASDAQ:FWRD) has earned a consensus rating of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $24.50.

FWRD has been the subject of several recent research reports. Susquehanna lowered their price objective on Forward Air from $29.00 to $25.00 and set a “positive” rating for the company in a research note on Friday, October 2nd. Weiss Ratings upgraded shares of Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 8th. Stifel Nicolaus cut their target price on shares of Forward Air from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Zacks Research lowered shares of Forward Air from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Finally, Wall Street Zen upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cibc World Market Inc. acquired a new position in shares of Forward Air in the 2nd quarter worth approximately $14,485,000. Renaissance Technologies LLC bought a new stake in shares of Forward Air in the 1st quarter valued at $3,535,000. Dimensional Fund Advisors LP boosted its stake in shares of Forward Air by 108.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 318,858 shares of the transportation company’s stock valued at $5,328,000 after purchasing an additional 166,084 shares during the last quarter. AlpInvest Partners B.V. acquired a new stake in shares of Forward Air during the second quarter worth $1,396,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Forward Air during the second quarter worth $846,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Forward Air Price Performance

Shares of FWRD opened at $15.30 on Wednesday. Forward Air has a 12-month low of $7.86 and a 12-month high of $31.17. The business has a 50-day simple moving average of $16.22 and a two-hundred day simple moving average of $15.27. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 13.98. The stock has a market cap of $483.79 million, a PE ratio of -1.72 and a beta of 1.41.

About Forward Air

Forward Air Corporation (NASDAQ: FWRD) is a transportation and logistics company that provides time-definite freight and supply chain services. Its offerings include expedited less-than-truckload transportation, truckload services, intermodal and drayage operations, final-mile delivery, and other logistics solutions designed for shipments requiring reliable transit times.

The company serves businesses across North America and supports domestic and international supply chains through a network of terminals, transportation partners, and logistics facilities.