Forward Air Co. (NASDAQ:FWRD) Receives $39.25 Consensus Target Price from Brokerages

Shares of Forward Air Co. (NASDAQ:FWRD) have earned a consensus rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $35.67.

A number of equities research analysts have recently weighed in on FWRD shares. Stifel Nicolaus lifted their price objective on Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. StockNews.com raised shares of Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. Finally, Jefferies Financial Group set a $47.00 price target on shares of Forward Air and gave the stock a “buy” rating in a research note on Friday, October 18th.

Forward Air Trading Up 6.6 %

Shares of FWRD opened at $34.36 on Thursday. The firm has a fifty day simple moving average of $33.51 and a two-hundred day simple moving average of $31.43. Forward Air has a twelve month low of $11.21 and a twelve month high of $61.42. The stock has a market capitalization of $994.86 million, a P/E ratio of -1.44 and a beta of 1.04. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07.

Hedge Funds Weigh In On Forward Air

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Northwest Investment Counselors LLC purchased a new position in Forward Air during the third quarter valued at $39,000. Point72 DIFC Ltd bought a new position in shares of Forward Air during the second quarter valued at $26,000. Nisa Investment Advisors LLC raised its position in shares of Forward Air by 62.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after purchasing an additional 763 shares during the last quarter. GAMMA Investing LLC boosted its stake in Forward Air by 89.2% in the 3rd quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock worth $133,000 after purchasing an additional 1,776 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in Forward Air during the 3rd quarter valued at about $224,000. Institutional investors own 97.03% of the company’s stock.

Forward Air Company Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.