Stifel Nicolaus Issues Positive Forecast for Forward Air (NASDAQ:FWRD) Stock Price

Forward Air (NASDAQ:FWRD) had its price target upped by Stifel Nicolaus from $34.00 to $36.00 in a research note released on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the transportation company’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com raised shares of Forward Air to a “sell” rating in a research note on Wednesday, November 6th. Jefferies Financial Group set a $47.00 price target on Forward Air and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Benchmark reissued a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.67.

Forward Air Trading Down 2.0 %

Shares of NASDAQ FWRD opened at $33.46 on Thursday. 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 stock has a market cap of $968.67 million, a price-to-earnings ratio of -1.40 and a beta of 1.04. Forward Air has a 52 week low of $11.21 and a 52 week high of $50.53. The business has a 50 day simple moving average of $33.17 and a 200 day simple moving average of $32.18.

Institutional Investors Weigh In On Forward Air

Several hedge funds and other institutional investors have recently made changes to their positions in FWRD. Inspire Investing LLC boosted its stake in Forward Air by 9.5% during the 4th quarter. Inspire Investing LLC now owns 12,601 shares of the transportation company’s stock valued at $406,000 after purchasing an additional 1,088 shares during the period. Sugar Maple Asset Management LLC boosted its position in shares of Forward Air by 24.4% in the fourth quarter. Sugar Maple Asset Management LLC now owns 20,900 shares of the transportation company’s stock valued at $674,000 after acquiring an additional 4,100 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Forward Air in the fourth quarter worth $11,140,000. JPMorgan Chase & Co. increased its position in Forward Air by 688.6% during the third 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. Finally, Franklin Resources Inc. acquired a new stake in Forward Air in the 3rd quarter worth $325,000. 97.03% of the stock is owned by institutional investors and hedge funds.

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.