Forward Air Corporation (NASDAQ:FWRD) Stock Has Consensus Price Target of $24.50

Key Points

• Forward Air has a consensus “Hold” rating from five analysts: three buys, one hold and one sell. The average 12-month price target is $24.50.
• Several analysts recently reduced their price targets, including Susquehanna to $25 and Stifel Nicolaus to $24, while maintaining positive or buy ratings.
• FWRD opened at $15.31, with a market capitalization of approximately $484 million; institutional investors own 97.03% of the company, led by new stakes from BlackRock, CIBC World Markets and Deutsche Bank.

Shares of Forward Air Corporation (NASDAQ:FWRD - Get Free Report) have earned a consensus rating of "Hold" from the five analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $24.50.

A number of equities analysts have recently issued reports on FWRD shares. Zacks Research cut Forward Air from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 3rd. Wall Street Zen raised Forward Air from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings raised Forward Air from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, September 8th. Susquehanna lowered their price target on Forward Air from $29.00 to $25.00 and set a "positive" rating on the stock in a research report on Friday, October 2nd. Finally, Stifel Nicolaus lowered their price target on Forward Air from $27.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, October 8th.

Forward Air Stock Down 0.1%

NASDAQ FWRD opened at $15.31 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 13.98. The stock's 50 day moving average is $16.46 and its two-hundred day moving average is $15.29. The company has a market capitalization of $484.10 million, a price-to-earnings ratio of -1.72 and a beta of 1.41. Forward Air has a 1-year low of $7.86 and a 1-year high of $31.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Forward Air during the 2nd quarter worth about $37,485,000. Cibc World Market Inc. bought a new position in Forward Air during the 2nd quarter valued at about $14,485,000. Deutsche Bank AG bought a new position in Forward Air during the 2nd quarter valued at about $8,293,000. Dimensional Fund Advisors LP boosted its position in Forward Air by 108.7% in the first quarter. Dimensional Fund Advisors LP now owns 318,858 shares of the transportation company's stock valued at $5,328,000 after buying an additional 166,084 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Forward Air in the first quarter valued at about $3,535,000. 97.03% of the stock is owned by institutional investors.

About Forward Air

Forward Air Corporation NASDAQ: FWRD is a transportation and logistics company that provides time-definite, less-than-truckload and other supply chain services. Its offerings include expedited ground transportation, intermodal drayage, truckload services, final-mile delivery, pool distribution and freight forwarding.

The company serves a range of industries, including aviation, automotive, healthcare, retail and manufacturing. Forward Air's network is focused primarily on North America, with international logistics capabilities provided through its global forwarding operations.

Founded in 1981, Forward Air has historically operated an asset-light transportation model that emphasizes the movement of shipments between key distribution centers and transportation hubs.

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