Forward Air Co. (NASDAQ:FWRD) Receives Average Recommendation of "Hold" from Analysts

Forward Air Co. (NASDAQ:FWRD - Get Free Report) has earned a consensus recommendation of "Hold" from the five research firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $35.67.

A number of research analysts have weighed in on the company. StockNews.com raised Forward Air to a "sell" rating in a research note on Wednesday, November 6th. Stifel Nicolaus increased their target price on Forward Air from $34.00 to $36.00 and gave the stock a "hold" rating in a research report on Thursday, January 23rd. Jefferies Financial Group set a $47.00 price target on Forward Air and gave the company a "buy" rating in a report on Friday, October 18th. Finally, Benchmark reiterated a "hold" rating on shares of Forward Air in a report on Tuesday, January 7th.

Institutional Investors Weigh In On Forward Air

A number of institutional investors have recently added to or reduced their stakes in FWRD. Goldentree Asset Management LP acquired a new position in shares of Forward Air in the 3rd quarter valued at about $14,270,000. Assenagon Asset Management S.A. purchased a new position in Forward Air in the fourth quarter valued at approximately $11,140,000. JPMorgan Chase & Co. lifted its position in Forward Air by 688.6% during the third quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company's stock valued at $11,573,000 after buying an additional 285,465 shares in the last quarter. Verition Fund Management LLC grew its stake in Forward Air by 1,481.6% during the third quarter. Verition Fund Management LLC now owns 208,396 shares of the transportation company's stock worth $7,377,000 after buying an additional 195,220 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Forward Air by 2,430.4% in the third quarter. BNP Paribas Financial Markets now owns 132,846 shares of the transportation company's stock worth $4,703,000 after acquiring an additional 127,596 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Forward Air Trading Up 1.8 %

Shares of FWRD traded up $0.58 on Monday, hitting $32.21. 456,657 shares of the stock traded hands, compared to its average volume of 523,944. Forward Air has a 1 year low of $11.21 and a 1 year high of $44.70. The stock's 50 day moving average is $32.66 and its two-hundred day moving average is $32.87. The firm has a market capitalization of $932.48 million, a P/E ratio of -1.35 and a beta of 1.03. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07.

About Forward Air

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.