Forward Air Co. (NASDAQ:FWRD) Receives Average Rating of “Hold” from Analysts

Shares of Forward Air Co. (NASDAQ:FWRD) have earned an average rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $39.25.

A number of research firms have recently weighed in on FWRD. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. Robert W. Baird upped their price target on shares of Forward Air from $17.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Stifel Nicolaus upped their price target on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Jefferies Financial Group set a $47.00 price target on shares of Forward Air and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, StockNews.com raised shares of Forward Air to a “sell” rating in a research report on Wednesday, November 6th.

Forward Air Stock Performance

NASDAQ:FWRD opened at $34.47 on Wednesday. The firm has a 50 day simple moving average of $36.09 and a 200-day simple moving average of $27.34. 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 cap of $997.91 million, a PE ratio of -1.45 and a beta of 1.02. Forward Air has a 1-year low of $11.21 and a 1-year high of $67.20.

Institutional Investors Weigh In On Forward Air

Large investors have recently made changes to their positions in the business. Boston Trust Walden Corp acquired a new stake in shares of Forward Air in the second quarter worth $611,000. Vanguard Group Inc. increased its position in shares of Forward Air by 14.2% in the first quarter. Vanguard Group Inc. now owns 3,407,797 shares of the transportation company’s stock worth $106,017,000 after acquiring an additional 424,924 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Forward Air in the first quarter worth $237,000. Tidal Investments LLC increased its position in shares of Forward Air by 103.9% in the first quarter. Tidal Investments LLC now owns 21,347 shares of the transportation company’s stock worth $664,000 after acquiring an additional 10,877 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Forward Air by 712.5% in the second quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock valued at $12,965,000 after purchasing an additional 597,120 shares during the period. 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.