Robert W. Baird Issues Pessimistic Forecast for Forward Air (NASDAQ:FWRD) Stock Price

Forward Air (NASDAQ:FWRD - Get Free Report) had its price target lowered by stock analysts at Robert W. Baird from $32.00 to $28.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the transportation company's stock. Robert W. Baird's price objective indicates a potential upside of 24.17% from the stock's previous close.

Several other analysts have also weighed in on the company. StockNews.com upgraded Forward Air to a "sell" rating in a report on Wednesday, November 6th. Stifel Nicolaus increased their target price 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. Finally, Benchmark reiterated a "hold" rating on shares of Forward Air in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Forward Air presently has an average rating of "Hold" and a consensus target price of $37.00.

Forward Air Trading Up 0.4 %

FWRD traded up $0.08 on Thursday, hitting $22.55. The company had a trading volume of 972,248 shares, compared to its average volume of 579,817. Forward Air has a 12-month low of $11.21 and a 12-month high of $40.92. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. The business's fifty day simple moving average is $31.33 and its 200 day simple moving average is $33.48. The company has a market cap of $652.91 million, a PE ratio of -0.95 and a beta of 1.03.

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Institutional Trading of Forward Air

A number of large investors have recently made changes to their positions in FWRD. Sterling Capital Management LLC lifted its holdings in 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 buying an additional 715 shares in the last quarter. Byrne Asset Management LLC increased its position in shares of Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock worth $35,000 after acquiring an additional 590 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Forward Air by 62.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company's stock valued at $70,000 after acquiring an additional 763 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Forward Air in the fourth quarter valued at approximately $72,000. Finally, AlphaQuest LLC boosted its holdings in shares of Forward Air by 155.9% in the fourth 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. 97.03% of the stock is owned by hedge funds and other institutional investors.

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.