Forward Air Co. (NASDAQ:FWRD) Receives $37.00 Average Price Target from Analysts

Forward Air Co. (NASDAQ:FWRD - Get Free Report) has been given an average recommendation of "Hold" by the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $37.00.

A number of equities research analysts have recently issued reports on FWRD shares. Benchmark restated a "hold" rating on shares of Forward Air in a research report on Tuesday, January 7th. Robert W. Baird decreased their price target on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday. Stifel Nicolaus increased their price target on shares of Forward Air from $34.00 to $36.00 and gave the company a "hold" rating in a report on Thursday, January 23rd. Finally, StockNews.com upgraded shares of Forward Air to a "sell" rating in a research report on Wednesday, November 6th.

Forward Air Stock Down 0.9 %

Shares of FWRD traded down $0.21 during trading hours on Friday, hitting $22.27. The company had a trading volume of 637,099 shares, compared to its average volume of 569,879. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The company has a market capitalization of $644.66 million, a PE ratio of -0.93 and a beta of 1.03. The company's fifty day moving average price is $31.33 and its two-hundred day moving average price is $33.48. Forward Air has a one year low of $11.21 and a one year high of $40.92.

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Institutional Trading of Forward Air

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans increased its stake in shares of Forward Air by 2.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,442 shares of the transportation company's stock worth $498,000 after acquiring an additional 432 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Forward Air by 4.1% during the fourth quarter. State of Alaska Department of Revenue now owns 11,354 shares of the transportation company's stock worth $366,000 after buying an additional 447 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Forward Air by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,251 shares of the transportation company's stock valued at $460,000 after acquiring an additional 498 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Forward Air by 5.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the transportation company's stock valued at $313,000 after acquiring an additional 500 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Forward Air by 0.6% during the 4th quarter. Federated Hermes Inc. now owns 103,397 shares of the transportation company's stock worth $3,335,000 after acquiring an additional 572 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

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.