Forward Air (NASDAQ:FWRD) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Forward Air (NASDAQ:FWRD) from a hold rating to a strong-buy rating in a research note released on Thursday,Zacks reports.

Several other research analysts also recently weighed in on the company. Weiss Ratings upgraded Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. Susquehanna lowered their price objective on Forward Air from $29.00 to $25.00 and set a “positive” rating for the company in a research report on Friday, October 2nd. Wall Street Zen upgraded Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Stifel Nicolaus set a $27.00 target price on Forward Air in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Forward Air presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Forward Air Stock Down 1.4%

Shares of NASDAQ:FWRD opened at $17.62 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 13.98. Forward Air has a 52-week low of $7.86 and a 52-week high of $31.17. The stock’s fifty day simple moving average is $16.03 and its 200-day simple moving average is $17.74. The company has a market capitalization of $557.14 million, a P/E ratio of -1.98 and a beta of 1.41.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Forward Air during the 2nd quarter worth approximately $37,485,000. Cibc World Market Inc. acquired a new position in Forward Air during the second quarter valued at approximately $14,485,000. Deutsche Bank AG purchased a new stake in Forward Air during the second quarter worth approximately $8,293,000. Landscape Capital Management L.L.C. purchased a new stake in Forward Air during the second quarter worth approximately $2,987,000. Finally, Renaissance Technologies LLC purchased a new stake in Forward Air during the first quarter worth approximately $3,535,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

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.