Brokerages Set Forward Air Co. (NASDAQ:FWRD) PT at $32.25

Forward Air Co. (NASDAQ:FWRD) has been assigned an average recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $32.25.

Several equities research analysts have commented on FWRD shares. Stifel Nicolaus dropped their price target on shares of Forward Air from $29.00 to $22.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Robert W. Baird cut their target price 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. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. Finally, Susquehanna cut their target price on Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a research report on Monday, March 31st.

Forward Air Trading Up 1.2 %

Shares of NASDAQ:FWRD opened at $15.53 on Friday. The company has a 50 day moving average of $19.68 and a 200-day moving average of $29.10. 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 cap of $472.16 million, a P/E ratio of -0.65 and a beta of 1.11. Forward Air has a twelve month low of $9.79 and a twelve month high of $40.92.

Hedge Funds Weigh In On Forward Air

Institutional investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans grew its holdings 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 valued at $498,000 after buying an additional 432 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Forward Air by 4.1% during the 4th quarter. State of Alaska Department of Revenue now owns 11,354 shares of the transportation company’s stock valued at $366,000 after purchasing an additional 447 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 valued at $460,000 after purchasing an additional 498 shares during the period. Louisiana State Employees Retirement System grew its position in Forward Air by 5.4% in 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. Finally, Federated Hermes Inc. increased its holdings 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 worth $3,335,000 after purchasing an additional 572 shares during the period. 97.03% of the stock is currently owned by 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.