Forward Air (NASDAQ:FWRD) Stock Price Up 4.4% - Time to Buy?

Forward Air Co. (NASDAQ:FWRD - Get Free Report)'s stock price rose 4.4% during mid-day trading on Thursday . The company traded as high as $18.43 and last traded at $18.43. Approximately 406,329 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 612,000 shares. The stock had previously closed at $17.65.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FWRD. Benchmark restated a "hold" rating on shares of Forward Air in a report on Tuesday, January 7th. Stifel Nicolaus lifted their price target on shares of Forward Air from $34.00 to $36.00 and gave the company a "hold" rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird lowered their target price on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. One 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 company's stock. According to data from MarketBeat, Forward Air has an average rating of "Hold" and a consensus price target of $37.00.

Forward Air Trading Up 1.1 %

The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The company's 50 day moving average is $29.14 and its 200 day moving average is $32.70. The stock has a market capitalization of $585.16 million, a price-to-earnings ratio of -0.85 and a beta of 1.08.

Institutional Trading of Forward Air

A number of hedge funds have recently modified their holdings of FWRD. Sterling Capital Management LLC boosted its position in shares of Forward Air by 812.5% during the 4th 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 in the last quarter. Byrne Asset Management LLC boosted its holdings in Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock valued at $35,000 after purchasing an additional 590 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Forward Air during the fourth quarter valued at approximately $72,000. AlphaQuest LLC grew its stake in shares of Forward Air by 155.9% in 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 period. Finally, Aquatic Capital Management LLC acquired a new position in shares of Forward Air in the 4th quarter worth approximately $138,000. Institutional investors 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.