Forward Air (NASDAQ:FWRD) Trading Down 4.9% - Here's Why

Forward Air Co. (NASDAQ:FWRD - Get Free Report)'s share price traded down 4.9% during trading on Monday . The stock traded as low as $30.18 and last traded at $30.68. 397,372 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 493,242 shares. The stock had previously closed at $32.25.

Wall Street Analysts Forecast Growth

FWRD has been the topic of several recent analyst reports. StockNews.com raised Forward Air to a "sell" rating in a research report on Wednesday, November 6th. Jefferies Financial Group set a $47.00 target price 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 $34.00 to $36.00 and gave the stock a "hold" rating in a report on Thursday, January 23rd. Finally, Benchmark reaffirmed 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 assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $35.67.

Forward Air Stock Up 1.8 %

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 stock has a market cap of $932.48 million, a price-to-earnings ratio of -1.35 and a beta of 1.03. The business has a fifty day moving average of $32.66 and a 200 day moving average of $32.87.

Hedge Funds Weigh In On Forward Air

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Forward Air by 11.8% in the 4th 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. Goldentree Asset Management LP acquired a new position in Forward Air during the third quarter valued at approximately $14,270,000. Assenagon Asset Management S.A. bought a new position in shares of Forward Air in the fourth quarter valued at approximately $11,140,000. JPMorgan Chase & Co. raised its position in shares of Forward Air by 688.6% in the third quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company's stock valued at $11,573,000 after purchasing an additional 285,465 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in shares of Forward Air by 17.2% during the 4th quarter. New York State Common Retirement Fund now owns 273,462 shares of the transportation company's stock worth $8,819,000 after buying an additional 40,176 shares during the period. 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.