Forward Air Co. (NASDAQ:FWRD) Receives $32.25 Average PT from Analysts

Forward Air Co. (NASDAQ:FWRD) has been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $32.25.

A number of equities analysts recently issued reports on the stock. 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 research note on Thursday, February 27th. Susquehanna reduced 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, Stifel Nicolaus lowered their target price on Forward Air from $29.00 to $22.00 and set a “hold” rating for the company in a research note on Thursday, April 10th.

Forward Air Stock Up 1.5%

Shares of NASDAQ FWRD opened at $19.17 on Wednesday. The firm has a fifty day simple moving average of $17.04 and a two-hundred day simple moving average of $26.58. Forward Air has a 12 month low of $9.79 and a 12 month high of $40.92. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The firm has a market capitalization of $583.21 million, a PE ratio of -0.80 and a beta of 1.24.

Institutional Investors Weigh In On Forward Air

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Proficio Capital Partners LLC purchased a new stake in shares of Forward Air in the 4th quarter worth approximately $815,000. Principal Financial Group Inc. grew its stake in shares of Forward Air by 7.3% in the fourth quarter. Principal Financial Group Inc. now owns 97,148 shares of the transportation company’s stock worth $3,133,000 after acquiring an additional 6,629 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Forward Air during the fourth quarter valued at $11,140,000. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 valued at $24,376,000 after acquiring an additional 79,960 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Forward Air in the 4th quarter worth about $320,000. Hedge funds and other 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.