Forward Air Corporation (NASDAQ:FWRD) Stock Now Rated "Hold" by Sell-Side Brokerages

Key Points

• Forward Air has a consensus “Hold” rating from five analysts: three buy ratings, one hold, and one sell. The average 12-month price target is $28.00.
• Recent analyst actions were mixed, with Wall Street Zen and Zacks Research moving the stock to “Hold,” while Stifel Nicolaus and Susquehanna raised their price targets to $27 and $29, respectively, and maintained positive views.
• FWRD opened at $14.69, below its $16.57 50-day moving average, while institutional investors own approximately 97.03% of the company’s shares.

Forward Air Corporation (NASDAQ:FWRD - Get Free Report) has received an average rating of "Hold" from the five research firms that are currently covering the stock, MarketBeat reports. One equities research 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 target among brokers that have covered the stock in the last year is $28.00.

Several research firms have recently weighed in on FWRD. Wall Street Zen upgraded shares of Forward Air from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research downgraded shares of Forward Air from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 3rd. Stifel Nicolaus increased their target price on shares of Forward Air from $19.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Susquehanna raised their target price on shares of Forward Air from $18.00 to $29.00 and gave the stock a "positive" rating in a report on Thursday, August 13th. Finally, Weiss Ratings upgraded shares of Forward Air from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, September 8th.

Forward Air Price Performance

NASDAQ:FWRD opened at $14.69 on Friday. The business's 50-day moving average price is $16.57 and its 200 day moving average price is $15.48. The firm has a market cap of $464.50 million, a P/E ratio of -1.65 and a beta of 1.38. Forward Air has a 52-week low of $7.86 and a 52-week high of $31.17. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 13.98.

Institutional Investors Weigh In On Forward Air

Several large investors have recently modified their holdings of FWRD. Integrated Wealth Concepts LLC acquired a new stake in shares of Forward Air during the second quarter worth $28,000. Allied Private Wealth LLC acquired a new position in shares of Forward Air in the 2nd quarter valued at $57,000. Fifth Third Bancorp boosted its position in shares of Forward Air by 2,397.7% in the 1st quarter. Fifth Third Bancorp now owns 5,495 shares of the transportation company's stock valued at $92,000 after purchasing an additional 5,275 shares during the period. State of Wyoming acquired a new position in shares of Forward Air in the 2nd quarter valued at $102,000. Finally, Corient Private Wealth LP purchased a new position in Forward Air in the 2nd quarter worth about $146,000. 97.03% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.