Susquehanna Issues Pessimistic Forecast for Forward Air (NASDAQ:FWRD) Stock Price

Forward Air (NASDAQ:FWRD) had its price target decreased by Susquehanna from $35.00 to $32.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “positive” rating on the transportation company’s stock. Susquehanna’s price objective indicates a potential upside of 63.35% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Robert W. Baird reduced their price target on Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Benchmark reiterated a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. Finally, Stifel Nicolaus increased their price target on shares of Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Forward Air presently has an average rating of “Hold” and an average target price of $35.75.

Forward Air Trading Down 2.5 %

NASDAQ FWRD opened at $19.59 on Monday. The company has a market capitalization of $595.59 million, a PE ratio of -0.82 and a beta of 1.08. Forward Air has a 1-year low of $11.21 and a 1-year high of $40.92. 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’s fifty day simple moving average is $26.15 and its 200-day simple moving average is $31.68.

Institutional Investors Weigh In On Forward Air

A number of large investors have recently added to or reduced their stakes in FWRD. Sterling Capital Management LLC lifted its stake in shares of Forward Air by 812.5% in the fourth 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 raised its holdings in Forward Air by 122.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock worth $35,000 after acquiring an additional 590 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Forward Air during the 4th quarter worth $72,000. AlphaQuest LLC boosted its holdings in Forward Air by 155.9% during the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock valued at $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 fourth quarter valued at about $138,000. 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.