Analysts Set Forward Air Co. (NASDAQ:FWRD) Target Price at $39.25

Forward Air Co. (NASDAQ:FWRD - Get Free Report) has been assigned an average rating of "Hold" from the five brokerages that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $39.25.

Several research analysts have issued reports on the stock. StockNews.com raised shares of Forward Air to a "sell" rating in a report on Wednesday, November 6th. Jefferies Financial Group set a $47.00 price objective on Forward Air and gave the company a "buy" rating in a research report on Friday, October 18th. 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.

Institutional Investors Weigh In On Forward Air

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in Forward Air during the second quarter valued at $220,000. Boston Trust Walden Corp purchased a new stake in shares of Forward Air in the 2nd quarter worth $611,000. Louisiana State Employees Retirement System lifted its position in Forward Air by 3.9% during the second quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the transportation company's stock valued at $303,000 after purchasing an additional 600 shares in the last quarter. Bfsg LLC grew its holdings in Forward Air by 21.4% during the second quarter. Bfsg LLC now owns 10,096 shares of the transportation company's stock valued at $192,000 after purchasing an additional 1,783 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Forward Air by 33.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,218 shares of the transportation company's stock worth $137,000 after buying an additional 1,803 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Forward Air Stock Down 2.0 %

FWRD traded down $0.66 during midday trading on Friday, reaching $32.84. The company's stock had a trading volume of 474,937 shares, compared to its average volume of 964,716. Forward Air has a 1 year low of $11.21 and a 1 year high of $67.20. The stock's 50-day moving average is $35.84 and its 200-day moving average is $29.81. The firm has a market capitalization of $950.85 million, a price-to-earnings ratio of -1.38 and a beta of 1.02. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07.

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.