Forward Air (NASDAQ:FWRD) Stock Price Down 18.2% – Should You Sell?

Forward Air Co. (NASDAQ:FWRD)’s share price fell 18.2% on Thursday . The company traded as low as $17.84 and last traded at $16.96. 93,906 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 859,159 shares. The stock had previously closed at $20.74.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FWRD. Susquehanna dropped their target price on Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a research note on Monday, March 31st. Stifel Nicolaus boosted their price target on Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Robert W. Baird decreased their price objective 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. Finally, Benchmark reissued a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.75.

Forward Air Price Performance

The stock has a market capitalization of $398.89 million, a PE ratio of -0.55 and a beta of 1.11. 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 stock’s fifty day moving average is $25.10 and its 200-day moving average is $31.34.

Institutional Trading of Forward Air

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jefferies Financial Group Inc. grew its holdings in shares of Forward Air by 148.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 285,670 shares of the transportation company’s stock valued at $9,213,000 after purchasing an additional 170,503 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Forward Air during the fourth quarter valued at about $72,000. Two Sigma Investments LP raised its stake in shares of Forward Air by 2.0% in the 4th quarter. Two Sigma Investments LP now owns 120,272 shares of the transportation company’s stock valued at $3,879,000 after acquiring an additional 2,339 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Forward Air in the 4th quarter worth approximately $315,000. Finally, Point72 Asset Management L.P. increased its holdings in Forward Air by 742.9% in the 4th 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. 97.03% of the stock is currently owned by hedge funds and other 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.