Brokerages Set Forward Air Co. (NASDAQ:FWRD) Target Price at $39.25

Forward Air Co. (NASDAQ:FWRD) has been assigned a consensus recommendation of “Hold” from the five ratings firms that are covering the stock, Marketbeat 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 objective among analysts that have issued ratings on the stock in the last year is $35.67.

Several equities research analysts have commented on the stock. StockNews.com raised shares of Forward Air to a “sell” rating in a report on Wednesday, November 6th. Benchmark restated a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. Stifel Nicolaus lifted their price target on Forward Air from $31.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group set a $47.00 price target on Forward Air and gave the company a “buy” rating in a report on Friday, October 18th.

Forward Air Stock Performance

FWRD opened at $32.23 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air has a 12-month low of $11.21 and a 12-month high of $61.42. The firm has a 50 day moving average of $33.51 and a two-hundred day moving average of $31.35. The firm has a market capitalization of $933.19 million, a PE ratio of -1.35 and a beta of 1.04.

Hedge Funds Weigh In On Forward Air

Institutional investors and hedge funds have recently modified their holdings of the business. Clearlake Capital Group L.P. grew its holdings in Forward Air by 255.2% in the second 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 during the period. MFN Partners Management LP purchased a new position in shares of Forward Air during the 2nd quarter valued at approximately $17,208,000. Federated Hermes Inc. grew its stake in Forward Air by 712.5% in the 2nd quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock valued at $12,965,000 after acquiring an additional 597,120 shares during the period. Goldentree Asset Management LP purchased a new stake in Forward Air in the 3rd quarter worth $14,270,000. Finally, Point72 Asset Management L.P. raised its position in 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. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.