Forward Air (NASDAQ:FWRD) Trading Down 18.2% - What's Next?

Forward Air Co. (NASDAQ:FWRD - Get Free Report) shares traded down 18.2% during trading on Thursday . The company traded as low as $17.84 and last traded at $16.96. 93,906 shares changed hands during trading, a decline of 89% from the average session volume of 859,159 shares. The stock had previously closed at $20.74.

Analyst Upgrades and Downgrades

FWRD has been the subject of several analyst reports. Benchmark reiterated a "hold" rating on shares of Forward Air in a research report on Tuesday, January 7th. Susquehanna reduced their price target on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a research note on Monday, March 31st. Robert W. Baird decreased their price objective on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Finally, Stifel Nicolaus boosted their target price on Forward Air from $34.00 to $36.00 and gave the stock a "hold" rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Forward Air currently has a consensus rating of "Hold" and a consensus price target of $35.75.

Forward Air Stock Down 15.7 %

The firm has a market capitalization of $319.23 million, a price-to-earnings ratio of -0.44 and a beta of 1.11. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50 day moving average of $23.74 and a 200 day moving average of $30.77.

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Institutional Investors Weigh In On Forward Air

Several large investors have recently modified their holdings of FWRD. Sterling Capital Management LLC grew its position in Forward Air by 812.5% in the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company's stock valued at $26,000 after acquiring an additional 715 shares during the period. Byrne Asset Management LLC grew its holdings in shares of Forward Air by 122.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock worth $35,000 after purchasing an additional 590 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Forward Air during the 4th quarter worth about $72,000. AlphaQuest LLC lifted its holdings in Forward Air by 155.9% during the 4th quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock valued at $94,000 after purchasing an additional 1,782 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new position in Forward Air during the 4th quarter valued at about $138,000. 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.