Brokerages Set Forward Air Co. (NASDAQ:FWRD) Target Price at $37.00

Shares of Forward Air Co. (NASDAQ:FWRD - Get Free Report) have earned an average rating of "Hold" from the five brokerages that are currently covering the firm, MarketBeat reports. Four investment 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 brokerages that have covered the stock in the last year is $37.00.

FWRD has been the topic of a number of research analyst reports. Benchmark restated a "hold" rating on shares of Forward Air in a research report on Tuesday, January 7th. Robert W. Baird cut their price objective on Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, Stifel Nicolaus upped their target price on Forward Air from $34.00 to $36.00 and gave the stock a "hold" rating in a report on Thursday, January 23rd.

Hedge Funds Weigh In On Forward Air

A number of hedge funds have recently modified their holdings of FWRD. Sterling Capital Management LLC raised its position in Forward Air by 812.5% during the 4th quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company's stock worth $26,000 after purchasing an additional 715 shares during the last quarter. Byrne Asset Management LLC increased its stake in shares of Forward Air by 122.9% in the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock valued at $35,000 after buying an additional 590 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Forward Air during the fourth quarter worth about $72,000. AlphaQuest LLC lifted its stake in shares of Forward Air by 155.9% in the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock worth $94,000 after acquiring an additional 1,782 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in shares of Forward Air in the fourth quarter worth approximately $138,000. Institutional investors and hedge funds own 97.03% of the company's stock.

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Forward Air Price Performance

Shares of FWRD traded down $0.18 during mid-day trading on Tuesday, reaching $20.72. The company had a trading volume of 299,218 shares, compared to its average volume of 867,466. The company has a market capitalization of $599.93 million, a price-to-earnings ratio of -0.87 and a beta of 1.08. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The company's 50 day simple moving average is $26.73 and its 200 day simple moving average is $31.91. Forward Air has a 1-year low of $11.21 and a 1-year high of $40.92.

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.