Forward Air (NASDAQ:FWRD) Price Target Cut to $25.00 by Analysts at Susquehanna

Forward Air (NASDAQ:FWRD) had its target price reduced by analysts at Susquehanna from $29.00 to $25.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “positive” rating on the transportation company’s stock. Susquehanna’s price objective indicates a potential upside of 61.29% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings raised Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. Zacks Research lowered Forward Air from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Wall Street Zen upgraded Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Stifel Nicolaus raised their price objective on shares of Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.00.

Forward Air Price Performance

Shares of NASDAQ FWRD opened at $15.50 on Friday. Forward Air has a twelve month low of $7.86 and a twelve month high of $31.17. The company has a market cap of $490.11 million, a PE ratio of -1.74 and a beta of 1.41. The business’s 50 day moving average price is $16.57 and its two-hundred day moving average price is $15.35. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 13.98.

Hedge Funds Weigh In On Forward Air

Several institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new position in shares of Forward Air during the second quarter valued at $28,000. Allied Private Wealth LLC bought a new stake in shares of Forward Air during the 2nd quarter valued at $57,000. Fifth Third Bancorp grew its holdings in Forward Air by 2,397.7% during the first quarter. Fifth Third Bancorp now owns 5,495 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 5,275 shares during the period. State of Wyoming bought a new stake in Forward Air during the 2nd quarter worth approximately $102,000. Finally, Corient Private Wealth LP purchased a new position in shares of Forward Air during the 2nd quarter valued at $146,000. 97.03% of the stock is currently owned by institutional investors.

About Forward Air

Forward Air Corporation (NASDAQ: FWRD) is a transportation and logistics company that provides time-definite, expedited freight and supply-chain services. Its operations support the movement of shipments that require reliable scheduling, specialized handling, or faster transit than traditional freight services.

The company’s service offerings include less-than-truckload transportation, truckload and intermodal services, final-mile delivery, freight forwarding, customs brokerage, warehousing, and related logistics solutions.