Brokerages Set Forward Air Co. (NASDAQ:FWRD) PT at $32.25

Shares of Forward Air Co. (NASDAQ:FWRD - Get Free Report) have been assigned an average recommendation of "Hold" from the six brokerages that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $32.25.

Several brokerages recently commented on FWRD. Benchmark restated a "hold" rating on shares of Forward Air in a research report on Tuesday, January 7th. Susquehanna reduced their price objective on Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a research report on Monday, March 31st. Stifel Nicolaus dropped their price objective on Forward Air from $29.00 to $22.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Finally, Robert W. Baird cut their price target on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th.

Forward Air Price Performance

Shares of FWRD traded up $0.44 during trading hours on Friday, hitting $15.97. 118,215 shares of the company were exchanged, compared to its average volume of 881,857. The firm has a fifty day simple moving average of $19.68 and a 200-day simple moving average of $29.10. The company has a market capitalization of $485.54 million, a PE ratio of -0.66 and a beta of 1.11. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. Forward Air has a one year low of $9.79 and a one year high of $40.92.

Institutional Trading of Forward Air

Institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC boosted its position in Forward Air by 812.5% in the 4th quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company's stock valued at $26,000 after buying an additional 715 shares during the last quarter. Byrne Asset Management LLC lifted its stake in 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 in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Forward Air in the 4th quarter valued at $72,000. AlphaQuest LLC boosted its stake in Forward Air by 155.9% in the 4th quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock worth $94,000 after purchasing an additional 1,782 shares during the period. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Forward Air in the 4th quarter valued at about $138,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.