Forward Air Co. (NASDAQ:FWRD) Given Average Recommendation of "Hold" by Brokerages

Forward Air Co. (NASDAQ:FWRD - Get Free Report) has earned a consensus rating of "Hold" from the five brokerages that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $39.25.

Several equities research analysts have recently issued reports on FWRD shares. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the company a "buy" rating in a research report on Friday, October 18th. StockNews.com upgraded shares of Forward Air to a "sell" rating in a report on Wednesday, November 6th. Benchmark reissued a "hold" rating on shares of Forward Air in a report on Tuesday. Finally, Stifel Nicolaus lifted their target price on Forward Air from $31.00 to $36.00 and gave the stock a "hold" rating in a report on Monday, October 21st.

Forward Air Price Performance

Shares of NASDAQ:FWRD traded up $0.01 during trading on Thursday, hitting $32.01. 294,371 shares of the company's stock were exchanged, compared to its average volume of 517,274. The business's 50-day simple moving average is $33.55 and its 200 day simple moving average is $31.17. 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 52-week low of $11.21 and a 52-week high of $63.63. The company has a market cap of $926.82 million, a price-to-earnings ratio of -1.34 and a beta of 1.04.

Hedge Funds Weigh In On Forward Air

A number of institutional investors and hedge funds have recently made changes to their positions in FWRD. Point72 DIFC Ltd purchased a new position in Forward Air in the second quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new position in shares of Forward Air in the 3rd quarter worth approximately $39,000. Nisa Investment Advisors LLC increased its position in shares of Forward Air by 62.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company's stock valued at $70,000 after purchasing an additional 763 shares during the last quarter. GAMMA Investing LLC raised its holdings in Forward Air by 89.2% during the 3rd quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company's stock valued at $133,000 after buying an additional 1,776 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Forward Air in the second quarter worth $181,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

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.