Forward Air (NASDAQ:FWRD) Receives “Hold” Rating from Benchmark

Benchmark reaffirmed their hold rating on shares of Forward Air (NASDAQ:FWRD) in a report released on Tuesday morning,Benzinga reports.

A number of other research firms have also recently weighed in on FWRD. StockNews.com raised Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Stifel Nicolaus raised 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. Finally, Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the company a “buy” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $39.25.

Forward Air Trading Up 0.0 %

NASDAQ:FWRD opened at $32.01 on Tuesday. The firm has a 50 day moving average of $33.55 and a 200 day moving average of $31.17. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air has a 52 week low of $11.21 and a 52 week high of $63.63. The stock has a market capitalization of $926.82 million, a price-to-earnings ratio of -1.34 and a beta of 1.04.

Institutional Trading of Forward Air

Large investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in shares of Forward Air in the second quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new position in Forward Air in the 3rd quarter worth approximately $39,000. Nisa Investment Advisors LLC raised its position in Forward Air by 62.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after buying an additional 763 shares during the last quarter. GAMMA Investing LLC lifted its stake in Forward Air by 89.2% during the 3rd 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 during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Forward Air by 33.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,218 shares of the transportation company’s stock valued at $137,000 after acquiring an additional 1,803 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.