Forward Air (NASDAQ:FWRD) Given New $22.00 Price Target at Stifel Nicolaus

Forward Air (NASDAQ:FWRD - Free Report) had its price objective lowered by Stifel Nicolaus from $29.00 to $22.00 in a research note released on Thursday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the transportation company's stock.

A number of other analysts have also issued reports on the company. Benchmark restated a "hold" rating on shares of Forward Air in a report on Tuesday, January 7th. Susquehanna dropped their target price on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a report on Monday, March 31st. Finally, Robert W. Baird decreased their price target 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $32.25.

Forward Air Trading Up 1.4 %

Shares of Forward Air stock traded up $0.21 during trading on Thursday, hitting $14.77. The stock had a trading volume of 301,499 shares, compared to its average volume of 885,586. Forward Air has a 1 year low of $9.79 and a 1 year high of $40.92. The stock has a 50 day simple moving average of $21.94 and a 200 day simple moving average of $29.99. 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 company has a market capitalization of $449.05 million, a PE ratio of -0.62 and a beta of 1.11.

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Institutional Trading of Forward Air

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in Forward Air by 688.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company's stock worth $11,573,000 after acquiring an additional 285,465 shares during the period. Proficio Capital Partners LLC bought a new position in Forward Air in the 4th quarter worth approximately $815,000. Principal Financial Group Inc. lifted its holdings in shares of Forward Air by 7.3% during the fourth quarter. Principal Financial Group Inc. now owns 97,148 shares of the transportation company's stock worth $3,133,000 after buying an additional 6,629 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Forward Air in the fourth quarter valued at approximately $11,140,000. Finally, Charles Schwab Investment Management Inc. increased its position in Forward Air by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock worth $24,376,000 after acquiring an additional 79,960 shares during the period. Institutional investors own 97.03% of the company's stock.

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.