Analysts Set Forward Air Co. (NASDAQ:FWRD) PT at $37.00

Shares of Forward Air Co. (NASDAQ:FWRD) have been given an average recommendation of “Hold” by the five brokerages that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $37.00.

A number of research analysts have commented on FWRD shares. Robert W. Baird reduced their target price on Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus upped their price target on Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Finally, Benchmark reaffirmed a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th.

Forward Air Stock Performance

Shares of FWRD stock opened at $20.90 on Tuesday. The stock has a market capitalization of $605.14 million, a price-to-earnings ratio of -0.88 and a beta of 1.08. Forward Air has a one year low of $11.21 and a one year high of $40.92. The company’s 50-day simple moving average is $26.99 and its 200-day simple moving average is $31.99. 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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC grew its stake in Forward Air by 812.5% during the 4th quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company’s stock worth $26,000 after buying an additional 715 shares during the last quarter. Byrne Asset Management LLC boosted its holdings in shares of Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 590 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Forward Air during the fourth quarter worth about $72,000. AlphaQuest LLC increased its holdings in shares of Forward Air by 155.9% in the 4th quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock worth $94,000 after acquiring an additional 1,782 shares during the period. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Forward Air in the 4th quarter worth about $138,000. 97.03% of the stock is currently 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.