Forward Air (NASDAQ:FWRD) Shares Up 7% - What's Next?

Shares of Forward Air Co. (NASDAQ:FWRD - Get Free Report) rose 7% during mid-day trading on Monday . The company traded as high as $34.49 and last traded at $34.47. Approximately 318,985 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 444,536 shares. The stock had previously closed at $32.23.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the stock a "buy" rating in a research report on Friday, October 18th. Stifel Nicolaus boosted their price target on shares of Forward Air from $31.00 to $36.00 and gave the stock a "hold" rating in a report on Monday, October 21st. StockNews.com raised shares of Forward Air to a "sell" rating in a research report on Wednesday, November 6th. Finally, Benchmark reissued a "hold" rating on shares of Forward Air in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $35.67.

Forward Air Price Performance

The firm has a market capitalization of $994.86 million, a PE ratio of -1.44 and a beta of 1.04. The business's 50 day moving average is $33.51 and its two-hundred day moving average is $31.43. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21.

Hedge Funds Weigh In On Forward Air

A number of large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in 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 buying an additional 763 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Forward Air during the third quarter valued at about $39,000. Creative Planning lifted its stake in Forward Air by 6.0% during the third quarter. Creative Planning now owns 19,885 shares of the transportation company's stock worth $704,000 after purchasing an additional 1,129 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Forward Air in the 2nd quarter worth about $26,000. Finally, American Century Companies Inc. increased its position in shares of Forward Air by 3.3% during the 2nd quarter. American Century Companies Inc. now owns 45,734 shares of the transportation company's stock valued at $871,000 after purchasing an additional 1,478 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

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.

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