Forward Air Co. (NASDAQ:FWRD) Receives $39.25 Average PT from Analysts

Shares of Forward Air Co. (NASDAQ:FWRD) have been assigned an average rating of “Hold” from 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 assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $39.25.

A number of research firms have recently commented on FWRD. Stifel Nicolaus increased their price target on shares of Forward Air from $31.00 to $36.00 and gave the company a “hold” rating in a report on Monday, October 21st. StockNews.com upgraded Forward Air to a “sell” rating in a research note on Wednesday, November 6th. Benchmark restated a “hold” rating on shares of Forward Air in a research note on Monday, August 12th. Robert W. Baird increased their price objective on Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group set a $47.00 target price on Forward Air and gave the stock a “buy” rating in a research report on Friday, October 18th.

Institutional Investors Weigh In On Forward Air

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC bought a new position in shares of Forward Air in the first quarter worth about $237,000. State Board of Administration of Florida Retirement System boosted its position in shares of Forward Air by 40.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,468 shares of the transportation company’s stock valued at $326,000 after acquiring an additional 3,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Forward Air by 14.2% in the first quarter. Vanguard Group Inc. now owns 3,407,797 shares of the transportation company’s stock valued at $106,017,000 after purchasing an additional 424,924 shares in the last quarter. UniSuper Management Pty Ltd purchased a new position in shares of Forward Air in the first quarter valued at $247,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in Forward Air by 19.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 35,304 shares of the transportation company’s stock valued at $1,098,000 after purchasing an additional 5,669 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Forward Air Stock Performance

Shares of Forward Air stock opened at $35.88 on Wednesday. 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 $36.17 and its 200 day moving average is $27.65. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -1.51 and a beta of 1.02. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

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.