Forward Air (NASDAQ:FWRD) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Forward Air Corporation (NASDAQ:FWRD)’s stock price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $17.54 and traded as low as $16.76. Forward Air shares last traded at $16.93, with a volume of 480,509 shares.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FWRD. Zacks Research upgraded shares of Forward Air from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 29th. Stifel Nicolaus set a $27.00 target price on shares of Forward Air in a research report on Thursday, October 29th. Wall Street Zen raised Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Susquehanna lowered their price target on Forward Air from $29.00 to $25.00 and set a “positive” rating on the stock in a research report on Friday, October 2nd. Finally, Weiss Ratings upgraded Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Forward Air currently has a consensus rating of “Moderate Buy” and an average price target of $26.00.

Forward Air Stock Performance

The firm has a market cap of $535.41 million, a PE ratio of -1.90 and a beta of 1.31. The company has a 50 day simple moving average of $16.07 and a 200-day simple moving average of $17.54. The company has a debt-to-equity ratio of 13.98, a current ratio of 1.32 and a quick ratio of 1.32.

Institutional Investors Weigh In On Forward Air

Hedge funds have recently made changes to their positions in the business. Private Management Group Inc. boosted its stake in shares of Forward Air by 3.4% in the 3rd quarter. Private Management Group Inc. now owns 1,184,883 shares of the transportation company’s stock valued at $18,069,000 after purchasing an additional 39,123 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its position in Forward Air by 138.7% in the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 295,726 shares of the transportation company’s stock worth $4,510,000 after purchasing an additional 171,829 shares during the period. WINTON GROUP Ltd purchased a new position in Forward Air in the 2nd quarter worth $406,000. Engineers Gate Manager LP raised its position in Forward Air by 68.8% in the 2nd quarter. Engineers Gate Manager LP now owns 76,646 shares of the transportation company’s stock worth $1,035,000 after purchasing an additional 31,241 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in Forward Air in the second quarter worth $28,000. 97.03% of the stock is currently owned by 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.