Forward Air (NASDAQ:FWRD) Price Target Lowered to $32.00 at Susquehanna

Forward Air (NASDAQ:FWRD) had its price objective reduced by investment analysts at Susquehanna from $35.00 to $32.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “positive” rating on the transportation company’s stock. Susquehanna’s price target indicates a potential upside of 54.44% from the company’s previous close.

A number of other equities analysts have also issued reports on FWRD. Robert W. Baird decreased their target price on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus raised their price objective 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 restated a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Forward Air has an average rating of “Hold” and a consensus target price of $35.75.

Forward Air Trading Down 0.9 %

Shares of FWRD stock opened at $20.72 on Monday. Forward Air has a 1 year low of $11.21 and a 1 year high of $40.92. The firm has a market capitalization of $629.95 million, a PE ratio of -0.87 and a beta of 1.08. The stock has a fifty day moving average of $26.73 and a two-hundred day moving average of $31.89. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21.

Institutional Trading of Forward Air

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its position in shares of Forward Air by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company’s stock valued at $24,376,000 after acquiring an additional 79,960 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Forward Air by 742.9% during the fourth quarter. Point72 Asset Management L.P. now owns 463,600 shares of the transportation company’s stock valued at $14,951,000 after purchasing an additional 408,600 shares during the last quarter. Penn Capital Management Company LLC boosted its position in shares of Forward Air by 17.9% in the 4th quarter. Penn Capital Management Company LLC now owns 380,947 shares of the transportation company’s stock valued at $12,286,000 after purchasing an additional 57,854 shares during the period. Assenagon Asset Management S.A. purchased a new position in Forward Air in the 4th quarter worth about $11,140,000. Finally, JPMorgan Chase & Co. raised its holdings in Forward Air by 688.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company’s stock worth $11,573,000 after buying an additional 285,465 shares during the period. 97.03% of the stock is currently owned by institutional investors.

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.