Forward Air Co. (NASDAQ:FWRD) Receives $35.67 Consensus PT from Analysts

Forward Air Co. (NASDAQ:FWRD) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $35.67.

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

Forward Air Price Performance

NASDAQ FWRD opened at $32.23 on Monday. The firm has a market capitalization of $933.19 million, a P/E ratio of -1.35 and a beta of 1.03. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. The company has a 50-day moving average price of $32.57 and a 200-day moving average price of $32.92. Forward Air has a 52 week low of $11.21 and a 52 week high of $44.10.

Institutional Trading of Forward Air

A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew 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 worth $133,000 after buying an additional 1,776 shares during the last quarter. Creative Planning grew its stake in shares of Forward Air by 6.0% during the 3rd quarter. Creative Planning now owns 19,885 shares of the transportation company’s stock worth $704,000 after purchasing an additional 1,129 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Forward Air during the third quarter worth $39,000. Nisa Investment Advisors LLC boosted 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 worth $70,000 after purchasing an additional 763 shares in the last quarter. Finally, Sugar Maple Asset Management LLC grew its holdings in Forward Air by 14.3% in the third quarter. Sugar Maple Asset Management LLC now owns 16,800 shares of the transportation company’s stock valued at $595,000 after purchasing an additional 2,100 shares during the period. 97.03% of the stock is currently owned by institutional investors.

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.