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

Forward Air Co. (NASDAQ:FWRD) has received an average rating of “Hold” from the five research firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $39.25.

A number of equities analysts have recently commented on the company. Stifel Nicolaus boosted their price target on Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, October 21st. 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. StockNews.com raised shares of Forward Air to a “sell” rating in a report on Wednesday, November 6th. Finally, Benchmark reissued a “hold” rating on shares of Forward Air in a research note on Tuesday.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of Forward Air by 688.6% during the third quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company’s stock valued at $11,573,000 after acquiring an additional 285,465 shares during the last quarter. Franklin Resources Inc. bought a new position in Forward Air during the 3rd quarter worth $325,000. XTX Topco Ltd lifted its holdings in Forward Air by 22.0% during the 3rd quarter. XTX Topco Ltd now owns 19,549 shares of the transportation company’s stock worth $692,000 after buying an additional 3,520 shares during the period. Weiss Asset Management LP grew its position in shares of Forward Air by 73.0% in the 3rd quarter. Weiss Asset Management LP now owns 78,803 shares of the transportation company’s stock valued at $2,790,000 after buying an additional 33,261 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in shares of Forward Air in the third quarter valued at about $224,000. Institutional investors own 97.03% of the company’s stock.

Forward Air Stock Performance

NASDAQ FWRD opened at $32.01 on Thursday. Forward Air has a 1 year low of $11.21 and a 1 year high of $63.63. The firm has a market capitalization of $926.82 million, a price-to-earnings ratio of -1.34 and a beta of 1.04. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The firm’s 50 day simple moving average is $33.62 and its 200 day simple moving average is $31.16.

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.