Forward Air (NASDAQ:FWRD) Shares Up 10.4% – Here’s Why

Shares of Forward Air Corporation (NASDAQ:FWRD) were up 10.4% on Friday . The company traded as high as $17.55 and last traded at $17.9990. 134,017 shares changed hands during trading, a decline of 85% from the average daily volume of 919,804 shares. The stock had previously closed at $16.31.

Analyst Ratings Changes

A number of analysts have recently commented on FWRD shares. Susquehanna lifted their price target on Forward Air from $18.00 to $29.00 and gave the company a “positive” rating in a research note on Thursday, August 13th. Stifel Nicolaus boosted their target price on shares of Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded shares of Forward Air from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. Finally, Zacks Research upgraded shares of Forward Air from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Forward Air Price Performance

The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 13.98. The business’s 50-day simple moving average is $15.74 and its two-hundred day simple moving average is $16.51. The firm has a market cap of $566.63 million, a price-to-earnings ratio of -2.01 and a beta of 1.38.

Hedge Funds Weigh In On Forward Air

Several hedge funds and other institutional investors have recently bought and sold shares of FWRD. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Forward Air during the 4th quarter worth approximately $36,000. Allied Private Wealth LLC bought a new position in Forward Air in the second quarter worth approximately $57,000. Tower Research Capital LLC TRC boosted its holdings in Forward Air by 207.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock worth $64,000 after acquiring an additional 1,753 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Forward Air in the fourth quarter valued at approximately $74,000. Finally, Fifth Third Bancorp increased its holdings in shares of 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 acquiring an additional 5,275 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Company Profile

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.