Forward Air Corporation (NASDAQ:FWRD) Receives $35.00 Consensus Price Target from Analysts

Shares of Forward Air Corporation (NASDAQ:FWRD) have been given a consensus rating of “Hold” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $35.00.

FWRD has been the topic of several recent analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Forward Air in a report on Thursday, November 6th. Zacks Research downgraded Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Stifel Nicolaus boosted their target price on shares of Forward Air from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Susquehanna raised their price target on shares of Forward Air from $42.00 to $45.00 and gave the stock a “positive” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a report on Thursday, January 22nd.

Forward Air Price Performance

Forward Air stock opened at $26.81 on Friday. Forward Air has a 12-month low of $9.78 and a 12-month high of $32.47. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 8.73. The firm has a 50-day moving average price of $26.97 and a 200-day moving average price of $25.75. The firm has a market capitalization of $837.81 million, a PE ratio of -6.96 and a beta of 1.35.

Institutional Investors Weigh In On Forward Air

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Forward Air by 15.1% in the third quarter. Vanguard Group Inc. now owns 2,353,608 shares of the transportation company’s stock worth $60,347,000 after acquiring an additional 307,906 shares during the period. Ridgemont Partners Management LLC lifted its position in shares of Forward Air by 0.7% in the 3rd quarter. Ridgemont Partners Management LLC now owns 1,937,405 shares of the transportation company’s stock worth $49,675,000 after purchasing an additional 13,926 shares during the period. Ancora Advisors LLC boosted its stake in shares of Forward Air by 8.5% during the third quarter. Ancora Advisors LLC now owns 1,475,055 shares of the transportation company’s stock valued at $37,820,000 after purchasing an additional 116,012 shares in the last quarter. Private Management Group Inc. increased its holdings in Forward Air by 8.7% during the second quarter. Private Management Group Inc. now owns 1,046,226 shares of the transportation company’s stock valued at $25,674,000 after buying an additional 83,600 shares during the period. Finally, State Street Corp raised its stake in Forward Air by 2.1% in the fourth quarter. State Street Corp now owns 949,784 shares of the transportation company’s stock worth $23,745,000 after buying an additional 19,854 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

About Forward Air

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.