Forward Air's (FWRD) "Hold" Rating Reiterated at Benchmark

Forward Air (NASDAQ:FWRD - Get Free Report)'s stock had its "hold" rating reissued by equities researchers at Benchmark in a research note issued to investors on Tuesday,Benzinga reports.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group set a $47.00 price objective on Forward Air and gave the company a "buy" rating in a report on Friday, October 18th. Stifel Nicolaus raised their price target on shares of 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 raised shares of Forward Air to a "sell" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $39.25.

Forward Air Stock Performance

Shares of FWRD stock traded down $0.55 during trading hours on Tuesday, hitting $32.00. The company's stock had a trading volume of 440,485 shares, compared to its average volume of 572,971. 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 company has a 50 day moving average of $33.73 and a 200 day moving average of $31.16. Forward Air has a 12-month low of $11.21 and a 12-month high of $64.33. The stock has a market cap of $926.53 million, a PE ratio of -1.34 and a beta of 1.04.

Hedge Funds Weigh In On Forward Air

A number of hedge funds have recently made changes to their positions in FWRD. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Forward Air by 33.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,218 shares of the transportation company's stock valued at $137,000 after purchasing an additional 1,803 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Forward Air by 2.1% during the second quarter. Rhumbline Advisers now owns 89,457 shares of the transportation company's stock worth $1,703,000 after buying an additional 1,828 shares in the last quarter. American Century Companies Inc. raised its position in shares of Forward Air by 3.3% in the second quarter. American Century Companies Inc. now owns 45,734 shares of the transportation company's stock valued at $871,000 after buying an additional 1,478 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Forward Air by 712.5% in the second quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company's stock worth $12,965,000 after buying an additional 597,120 shares in the last quarter. Finally, MFN Partners Management LP acquired a new position in Forward Air during the second quarter worth about $17,208,000. Institutional investors and hedge funds own 97.03% of the company's stock.

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.