Forward Air (NASDAQ:FWRD) Shares Gap Down - Time to Sell?

Forward Air Co. (NASDAQ:FWRD - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $20.51, but opened at $19.39. Forward Air shares last traded at $20.67, with a volume of 55,627 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FWRD shares. Stifel Nicolaus lifted their price objective on shares of Forward Air from $34.00 to $36.00 and gave the company a "hold" rating in a research note on Thursday, January 23rd. Robert W. Baird decreased their target price on Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, Benchmark reiterated a "hold" rating on shares of Forward Air in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $37.00.

Forward Air Stock Up 0.2 %

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 market cap of $615.27 million, a price-to-earnings ratio of -0.89 and a beta of 1.08. The business has a fifty day moving average price of $28.01 and a two-hundred day moving average price of $32.29.

Institutional Investors Weigh In On Forward Air

A number of institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in Forward Air by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock valued at $24,376,000 after acquiring an additional 79,960 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Forward Air by 742.9% in the fourth quarter. Point72 Asset Management L.P. now owns 463,600 shares of the transportation company's stock worth $14,951,000 after buying an additional 408,600 shares during the last quarter. Goldentree Asset Management LP acquired a new position in Forward Air during the 3rd quarter worth $14,270,000. Penn Capital Management Company LLC lifted its position in shares of Forward Air by 17.9% during the 4th quarter. Penn Capital Management Company LLC now owns 380,947 shares of the transportation company's stock worth $12,286,000 after purchasing an additional 57,854 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Forward Air during the fourth quarter worth approximately $11,140,000. Institutional investors and hedge funds own 97.03% of the company's stock.

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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.