Forward Air (NASDAQ:FWRD) Price Target Cut to $25.00 by Analysts at Susquehanna

Key Points

• Susquehanna cut Forward Air’s price target from $29 to $25 while maintaining a “positive” rating, implying 61.29% upside from the prior close.
• Analyst sentiment is mixed: Forward Air has an average “Hold” rating and a consensus price target of $26, with three Buy, one Hold, and one Sell rating.
• Forward Air shares opened at $15.50, while institutional investors own a substantial 97.03% of the company’s stock.

Forward Air (NASDAQ:FWRD - Get Free Report) had its price target cut by equities research analysts at Susquehanna from $29.00 to $25.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a "positive" rating on the transportation company's stock. Susquehanna's price objective suggests a potential upside of 61.29% from the company's previous close.

FWRD has been the topic of a number of other research reports. Stifel Nicolaus raised their price objective on shares of Forward Air from $19.00 to $27.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings raised Forward Air from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, September 8th. Zacks Research lowered shares of Forward Air from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 3rd. Finally, Wall Street Zen upgraded shares of Forward Air from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $26.00.

Forward Air Stock Performance

Shares of Forward Air stock opened at $15.50 on Friday. Forward Air has a 52 week low of $7.86 and a 52 week high of $31.17. The company has a 50 day moving average price of $16.57 and a 200 day moving average price of $15.35. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 13.98. The firm has a market capitalization of $490.11 million, a P/E ratio of -1.74 and a beta of 1.41.

Hedge Funds Weigh In On Forward Air

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Forward Air in the 2nd quarter worth $37,485,000. Melqart Asset Management UK Ltd raised its stake in shares of Forward Air by 122.3% in the 4th quarter. Melqart Asset Management UK Ltd now owns 849,876 shares of the transportation company's stock valued at $21,247,000 after acquiring an additional 467,482 shares in the last quarter. Cibc World Market Inc. boosted its holdings in Forward Air by 3.8% during the fourth quarter. Cibc World Market Inc. now owns 784,731 shares of the transportation company's stock valued at $19,618,000 after acquiring an additional 28,693 shares during the period. BNP Paribas Financial Markets raised its stake in Forward Air by 105.8% during the 4th quarter. BNP Paribas Financial Markets now owns 404,706 shares of the transportation company's stock valued at $10,118,000 after purchasing an additional 208,096 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Forward Air during the 2nd quarter worth approximately $8,293,000. Institutional investors own 97.03% of the company's stock.

Forward Air Company Profile

Forward Air Corporation NASDAQ: FWRD is a transportation and logistics company that provides time-definite, expedited freight and supply-chain services. Its operations support the movement of shipments that require reliable scheduling, specialized handling, or faster transit than traditional freight services.

The company's service offerings include less-than-truckload transportation, truckload and intermodal services, final-mile delivery, freight forwarding, customs brokerage, warehousing, and related logistics solutions.

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