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

Forward Air Co. (NASDAQ:FWRD - Get Free Report) has been given an average rating of "Hold" by the five ratings firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $39.25.

Several analysts have weighed in on the company. Benchmark reaffirmed a "hold" rating on shares of Forward Air in a research note on Monday, August 12th. Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the company a "buy" rating in a research note on Friday, October 18th. Robert W. Baird increased their price target on Forward Air from $17.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, August 8th. Stifel Nicolaus raised their price objective on Forward Air from $31.00 to $36.00 and gave the company a "hold" rating in a research report on Monday, October 21st. Finally, StockNews.com upgraded Forward Air to a "sell" rating in a research note on Wednesday, November 6th.

Institutional Trading of Forward Air

Several institutional investors have recently made changes to their positions in FWRD. Boston Trust Walden Corp bought a new position in shares of Forward Air during the second quarter valued at approximately $611,000. Vanguard Group Inc. lifted its stake in shares of Forward Air by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 3,407,797 shares of the transportation company's stock valued at $106,017,000 after purchasing an additional 424,924 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Forward Air in the first quarter valued at about $237,000. Tidal Investments LLC raised its position in shares of Forward Air by 103.9% in the first quarter. Tidal Investments LLC now owns 21,347 shares of the transportation company's stock valued at $664,000 after buying an additional 10,877 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Forward Air by 712.5% during the 2nd quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company's stock worth $12,965,000 after acquiring an additional 597,120 shares during the period. Hedge funds and other institutional investors own 97.03% of the company's stock.

Forward Air Stock Performance

NASDAQ:FWRD traded up $0.47 during trading hours on Wednesday, reaching $34.94. 370,652 shares of the company's stock were exchanged, compared to its average volume of 998,688. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air has a 1-year low of $11.21 and a 1-year high of $67.20. The company has a 50-day moving average of $36.09 and a 200 day moving average of $27.34. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -1.45 and a beta of 1.02.

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.