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

Forward Air Co. (NASDAQ:FWRD) has received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $35.67.

FWRD has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on shares of Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Benchmark reiterated a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of Forward Air to a “sell” rating in a report on Wednesday, November 6th.

Forward Air Stock Performance

Shares of FWRD opened at $32.25 on Monday. Forward Air has a one year low of $11.21 and a one year high of $45.94. The company has a 50-day moving average of $33.01 and a two-hundred day moving average of $32.79. The stock has a market cap of $933.64 million, a price-to-earnings ratio of -1.35 and a beta of 1.04. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

Institutional Trading of Forward Air

Hedge funds have recently made changes to their positions in the stock. Byrne Asset Management LLC lifted its position in shares of Forward Air by 122.9% in the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 590 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in Forward Air during the third quarter valued at approximately $39,000. Nisa Investment Advisors LLC raised its position in Forward Air by 62.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock valued at $70,000 after acquiring an additional 763 shares in the last quarter. GAMMA Investing LLC raised its position in Forward Air by 89.2% during the third quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock valued at $133,000 after acquiring an additional 1,776 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new position in Forward Air during the third quarter valued at approximately $224,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

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.