Analysts Set Forward Air Corporation (NASDAQ:FWRD) PT at $35.00

Shares of Forward Air Corporation (NASDAQ:FWRD) have received a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $35.00.

A number of equities analysts recently weighed in on FWRD shares. Wall Street Zen upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. Stifel Nicolaus boosted their price objective on shares of Forward Air from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, July 24th.

Institutional Investors Weigh In On Forward Air

A number of large investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans grew its position in Forward Air by 2.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 15,442 shares of the transportation company’s stock worth $498,000 after purchasing an additional 432 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Forward Air by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,251 shares of the transportation company’s stock worth $460,000 after purchasing an additional 498 shares during the period. Federated Hermes Inc. grew its position in shares of Forward Air by 0.6% during the 4th quarter. Federated Hermes Inc. now owns 103,397 shares of the transportation company’s stock valued at $3,335,000 after acquiring an additional 572 shares during the period. Quantinno Capital Management LP grew its position in shares of Forward Air by 9.7% during the 4th quarter. Quantinno Capital Management LP now owns 6,949 shares of the transportation company’s stock valued at $224,000 after acquiring an additional 615 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Forward Air by 7.0% during the 1st quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock valued at $201,000 after acquiring an additional 654 shares during the period. Institutional investors own 97.03% of the company’s stock.

Forward Air Price Performance

Shares of NASDAQ FWRD opened at $30.79 on Monday. Forward Air has a twelve month low of $9.78 and a twelve month high of $40.92. The firm has a market cap of $936.63 million, a P/E ratio of -1.06 and a beta of 1.41. The company has a 50 day moving average of $23.64 and a 200 day moving average of $22.94. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 7.55.

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.