Forward Air Co. (NASDAQ:FWRD) Given Consensus Recommendation of “Hold” by Analysts

Shares of Forward Air Co. (NASDAQ:FWRD) have been assigned an average recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $32.25.

Several brokerages have issued reports on FWRD. Susquehanna dropped 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 reaffirmed a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. Stifel Nicolaus cut their target price on shares of Forward Air from $29.00 to $22.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Finally, Robert W. Baird lowered their price target on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FWRD. Sterling Capital Management LLC boosted its stake in Forward Air by 812.5% during the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company’s stock valued at $26,000 after buying an additional 715 shares during the period. Byrne Asset Management LLC boosted its position in shares of Forward Air by 122.9% during the 4th 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 last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Forward Air during the fourth quarter worth about $72,000. AlphaQuest LLC increased its position in shares of Forward Air by 155.9% in 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 purchased a new stake in Forward Air in the fourth quarter valued at approximately $138,000. 97.03% of the stock is owned by institutional investors.

Forward Air Trading Up 6.6 %

Shares of FWRD stock opened at $15.63 on Friday. Forward Air has a 12-month low of $9.79 and a 12-month high of $40.92. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. The company has a 50 day moving average of $20.59 and a 200-day moving average of $29.51. The firm has a market cap of $475.20 million, a P/E ratio of -0.66 and a beta of 1.11.

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.