Stifel Nicolaus Increases Forward Air (NASDAQ:FWRD) Price Target to $36.00

Forward Air (NASDAQ:FWRD) had its price objective raised by research analysts at Stifel Nicolaus from $34.00 to $36.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the transportation company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 7.43% from the company’s current price.

A number of other brokerages have also recently weighed in on FWRD. Benchmark restated a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. StockNews.com raised shares of Forward Air to a “sell” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the company a “buy” rating in a research note 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.67.

Forward Air Stock Performance

Shares of FWRD stock opened at $33.51 on Thursday. The business has a 50 day simple moving average of $33.15 and a 200 day simple moving average of $32.27. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $970.11 million, a price-to-earnings ratio of -1.41 and a beta of 1.04. Forward Air has a 12-month low of $11.21 and a 12-month high of $49.55.

Hedge Funds Weigh In On Forward Air

Several hedge funds have recently made changes to their positions in FWRD. American Century Companies Inc. boosted its holdings in Forward Air by 3.3% during the second quarter. American Century Companies Inc. now owns 45,734 shares of the transportation company’s stock worth $871,000 after buying an additional 1,478 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Forward Air during the 2nd quarter valued at $305,000. Ensign Peak Advisors Inc lifted its position in shares of Forward Air by 111.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 19,297 shares of the transportation company’s stock valued at $367,000 after acquiring an additional 10,150 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Forward Air by 10.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 69,967 shares of the transportation company’s stock worth $1,332,000 after acquiring an additional 6,846 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Forward Air in the 2nd quarter worth $26,000. 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.