Forward Air Corporation (NASDAQ:FWRD) Stock Rated “Hold” by Wall Street Brokerages

Forward Air Corporation (NASDAQ:FWRD) has received a consensus rating of “Hold” from the five brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $24.50.

A number of analysts have recently issued reports on the stock. Susquehanna cut their price target on shares of Forward Air from $29.00 to $25.00 and set a “positive” rating for the company in a report on Friday, October 2nd. Wall Street Zen raised shares of Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 8th. Zacks Research cut Forward Air from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Finally, Stifel Nicolaus decreased their price target on shares of Forward Air from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th.

Forward Air Price Performance

FWRD stock opened at $15.30 on Wednesday. The firm has a 50-day simple moving average of $16.22 and a 200-day simple moving average of $15.25. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 13.98. The stock has a market capitalization of $483.79 million, a P/E ratio of -1.72 and a beta of 1.41. Forward Air has a 52 week low of $7.86 and a 52 week high of $31.17.

Institutional Investors Weigh In On Forward Air

A number of large investors have recently modified their holdings of FWRD. BlackRock Inc. acquired a new stake in Forward Air in the second quarter valued at approximately $37,485,000. Cibc World Market Inc. bought a new stake in shares of Forward Air in the 2nd quarter worth approximately $14,485,000. Deutsche Bank AG acquired a new stake in shares of Forward Air in the second quarter valued at approximately $8,293,000. Dimensional Fund Advisors LP lifted its holdings in Forward Air by 108.7% in the first quarter. Dimensional Fund Advisors LP now owns 318,858 shares of the transportation company’s stock worth $5,328,000 after purchasing an additional 166,084 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Forward Air in the first quarter valued at $3,535,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Company Profile

Forward Air Corporation (NASDAQ: FWRD) is a transportation and logistics company that provides time-definite freight and supply chain services. Its offerings include expedited less-than-truckload transportation, truckload services, intermodal and drayage operations, final-mile delivery, and other logistics solutions designed for shipments requiring reliable transit times.

The company serves businesses across North America and supports domestic and international supply chains through a network of terminals, transportation partners, and logistics facilities.