Forward Air (NASDAQ:FWRD) Receives Hold Rating from Benchmark

Benchmark reissued their hold rating on shares of Forward Air (NASDAQ:FWRD) in a research note released on Tuesday morning,Benzinga reports.

Several other equities analysts have also recently commented on the company. Jefferies Financial Group set a $47.00 target price on Forward Air and gave the stock a “buy” rating in a research report on Friday, October 18th. StockNews.com upgraded shares of Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus lifted their price target on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $39.25.

Forward Air Price Performance

Shares of NASDAQ:FWRD opened at $32.00 on Tuesday. Forward Air has a 12 month low of $11.21 and a 12 month high of $64.33. 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 stock has a market cap of $926.53 million, a P/E ratio of -1.34 and a beta of 1.04. The company has a 50 day moving average of $33.73 and a 200 day moving average of $31.16.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Clearlake Capital Group L.P. grew its holdings in shares of Forward Air by 255.2% in the second quarter. Clearlake Capital Group L.P. now owns 3,825,000 shares of the transportation company’s stock worth $72,828,000 after acquiring an additional 2,747,994 shares during the period. MFN Partners Management LP bought a new stake in Forward Air in the 2nd quarter valued at $17,208,000. Federated Hermes Inc. increased its stake in Forward Air by 712.5% in the 2nd quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock worth $12,965,000 after acquiring an additional 597,120 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Forward Air by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 675,883 shares of the transportation company’s stock worth $23,926,000 after buying an additional 28,669 shares in the last quarter. Finally, Goldentree Asset Management LP bought a new stake in Forward Air during the third quarter worth approximately $14,270,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

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.