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

Shares of Forward Air Co. (NASDAQ:FWRD) have received a consensus recommendation of “Hold” from the five ratings firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $32.25.

Several equities analysts recently weighed in on the stock. Susquehanna reduced their target price on shares of Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a report on Monday, March 31st. Robert W. Baird cut their price objective on Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Stifel Nicolaus decreased their target price on Forward Air from $29.00 to $22.00 and set a “hold” rating for the company in a research report on Thursday, April 10th.

Forward Air Trading Up 0.3%

Shares of FWRD stock opened at $19.58 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air has a fifty-two week low of $9.79 and a fifty-two week high of $40.92. The firm’s 50 day moving average price is $16.22 and its two-hundred day moving average price is $24.56. The stock has a market cap of $595.68 million, a price-to-earnings ratio of -0.82 and a beta of 1.29.

Hedge Funds Weigh In On Forward Air

Institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its position in shares of Forward Air by 4.1% during the fourth quarter. State of Alaska Department of Revenue now owns 11,354 shares of the transportation company’s stock worth $366,000 after acquiring an additional 447 shares during the last quarter. Byrne Asset Management LLC grew its stake in Forward Air by 122.9% during the 4th 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. Louisiana State Employees Retirement System increased its holdings in Forward Air by 5.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the transportation company’s stock worth $313,000 after purchasing an additional 500 shares during the last quarter. Legato Capital Management LLC acquired a new position in shares of Forward Air in the 4th quarter valued at approximately $745,000. Finally, Principal Financial Group Inc. raised its position in shares of Forward Air by 7.3% in the 4th quarter. Principal Financial Group Inc. now owns 97,148 shares of the transportation company’s stock valued at $3,133,000 after purchasing an additional 6,629 shares in the last quarter. Institutional investors and hedge funds 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.