Forward Air (NASDAQ:FWRD) Stock Price Up 6.8% – What’s Next?

Shares of Forward Air Co. (NASDAQ:FWRD) rose 6.8% during mid-day trading on Thursday . The company traded as high as $30.35 and last traded at $30.34. Approximately 315,131 shares were traded during trading, a decline of 67% from the average daily volume of 952,267 shares. The stock had previously closed at $28.40.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FWRD. Stifel Nicolaus raised their price objective on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. StockNews.com raised Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group set a $47.00 price target on Forward Air and gave the company a “buy” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.25.

Forward Air Stock Up 6.6 %

The business’s 50 day simple moving average is $34.79 and its 200-day simple moving average is $30.39. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market cap of $876.32 million, a price-to-earnings ratio of -1.27 and a beta of 1.02.

Institutional Trading of Forward Air

Institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System lifted its holdings in shares of Forward Air by 3.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the transportation company’s stock valued at $303,000 after buying an additional 600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Forward Air by 33.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,218 shares of the transportation company’s stock worth $137,000 after acquiring an additional 1,803 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Forward Air by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 89,457 shares of the transportation company’s stock worth $1,703,000 after purchasing an additional 1,828 shares during the last quarter. Naviter Wealth LLC bought a new position in shares of Forward Air during the 2nd quarter valued at $246,000. Finally, Paralel Advisors LLC raised its holdings in shares of Forward Air by 47.1% during the 2nd quarter. Paralel Advisors LLC now owns 750,000 shares of the transportation company’s stock valued at $14,280,000 after purchasing an additional 240,000 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

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.