Stifel Nicolaus Cuts Forward Air (NASDAQ:FWRD) Price Target to $22.00

Forward Air (NASDAQ:FWRD) had its target price trimmed by Stifel Nicolaus from $29.00 to $22.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a hold rating on the transportation company’s stock.

Several other research firms have also commented on FWRD. Susquehanna reduced their price target on Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a research report on Monday, March 31st. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. Finally, Robert W. Baird lowered their price target on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.25.

Forward Air Trading Up 1.6 %

NASDAQ:FWRD opened at $13.52 on Thursday. Forward Air has a 12 month low of $9.79 and a 12 month high of $40.92. The business’s 50-day moving average is $22.28 and its two-hundred day moving average is $30.17. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $411.05 million, a PE ratio of -0.57 and a beta of 1.11.

Hedge Funds Weigh In On Forward Air

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

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.