Forward Air (NASDAQ:FWRD) Given New $36.00 Price Target at Stifel Nicolaus

Forward Air (NASDAQ:FWRD) had its price target hoisted by Stifel Nicolaus from $31.00 to $36.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a hold rating on the transportation company’s stock.

FWRD has been the topic of a number of other research reports. Robert W. Baird increased their price objective on Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a research note on Monday, August 12th. Finally, Jefferies Financial Group set a $47.00 target price on Forward Air and gave the stock a “buy” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Forward Air has an average rating of “Hold” and a consensus price target of $46.40.

Forward Air Stock Down 0.5 %

Forward Air stock opened at $36.58 on Monday. The company has a debt-to-equity ratio of 4.70, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $967.10 million, a price-to-earnings ratio of 10.70 and a beta of 1.02. Forward Air has a fifty-two week low of $11.21 and a fifty-two week high of $77.55. The stock’s fifty day moving average is $34.72 and its two-hundred day moving average is $25.87.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported ($23.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($23.11). The company had revenue of $643.67 million for the quarter, compared to analyst estimates of $642.92 million. Forward Air had a negative net margin of 30.77% and a negative return on equity of 79.11%. The firm’s revenue was up 92.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 EPS. Analysts predict that Forward Air will post -1.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Forward Air

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its holdings in shares of Forward Air by 62.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after purchasing an additional 763 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of Forward Air in the 3rd quarter worth about $39,000. Creative Planning raised its holdings in shares of Forward Air by 6.0% in the 3rd quarter. Creative Planning now owns 19,885 shares of the transportation company’s stock worth $704,000 after purchasing an additional 1,129 shares during the period. GAMMA Investing LLC raised its holdings in shares of Forward Air by 89.2% in the 3rd quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock worth $133,000 after purchasing an additional 1,776 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in shares of Forward Air in the 2nd quarter worth about $26,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Forward Air Company Profile

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.