Forward Air (NASDAQ:FWRD) Price Target Raised to $36.00

Forward Air (NASDAQ:FWRD - Get Free Report) had its price target raised by equities research analysts at Stifel Nicolaus from $34.00 to $36.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the transportation company's stock. Stifel Nicolaus' price objective would suggest a potential upside of 7.43% from the company's current price.

Several other equities analysts have also issued reports on FWRD. Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the company a "buy" rating in a report on Friday, October 18th. StockNews.com upgraded Forward Air to a "sell" rating in a research note on Wednesday, November 6th. Finally, Benchmark reissued a "hold" rating on shares of Forward Air in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Forward Air presently has a consensus rating of "Hold" and an average price target of $35.67.

Forward Air Trading Up 0.1 %

Shares of FWRD stock traded up $0.05 during trading hours on Thursday, reaching $33.51. The company's stock had a trading volume of 532,382 shares, compared to its average volume of 457,859. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The firm's fifty day simple moving average is $33.17 and its 200 day simple moving average is $32.18. The stock has a market capitalization of $970.11 million, a P/E ratio of -1.41 and a beta of 1.04. Forward Air has a one year low of $11.21 and a one year high of $49.55.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd purchased a new position in shares of Forward Air in the 2nd quarter worth $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Forward Air during the 3rd quarter valued at about $39,000. Nisa Investment Advisors LLC lifted its stake in shares of Forward Air by 62.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company's stock worth $70,000 after purchasing an additional 763 shares during the period. GAMMA Investing LLC raised its position in Forward Air by 89.2% in the third quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company's stock worth $133,000 after acquiring an additional 1,776 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Forward Air in the second quarter worth approximately $181,000. Institutional investors own 97.03% of the company's stock.

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.