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

Forward Air Co. (NASDAQ:FWRD) has earned a consensus recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $39.25.

A number of brokerages have issued reports on FWRD. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the company a “buy” rating in a research note on Friday, October 18th. Stifel Nicolaus raised their price target on Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, StockNews.com upgraded Forward Air to a “sell” rating in a report on Wednesday, November 6th.

Forward Air Stock Down 1.7 %

Shares of NASDAQ FWRD opened at $30.87 on Friday. Forward Air has a 1 year low of $11.21 and a 1 year high of $67.20. The firm’s 50-day moving average is $35.53 and its 200-day moving average is $30.04. 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 has a market capitalization of $893.81 million, a PE ratio of -1.30 and a beta of 1.02.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearlake Capital Group L.P. lifted its holdings in shares of Forward Air by 255.2% during the 2nd quarter. Clearlake Capital Group L.P. now owns 3,825,000 shares of the transportation company’s stock valued at $72,828,000 after purchasing an additional 2,747,994 shares in the last quarter. MFN Partners Management LP bought a new position in Forward Air in the second quarter valued at approximately $17,208,000. Federated Hermes Inc. boosted its holdings in shares of Forward Air by 712.5% in the second quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock valued at $12,965,000 after buying an additional 597,120 shares during the period. Goldentree Asset Management LP bought a new stake in shares of Forward Air during the third quarter worth $14,270,000. Finally, Point72 Asset Management L.P. raised its holdings in shares of Forward Air by 11,740.6% during the second quarter. Point72 Asset Management L.P. now owns 372,500 shares of the transportation company’s stock worth $7,092,000 after acquiring an additional 375,700 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

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.