Forward Air Co. (NASDAQ:FWRD) Given Consensus Recommendation of "Hold" by Brokerages

Forward Air Co. (NASDAQ:FWRD - Get Free Report) has earned a consensus rating of "Hold" from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $32.25.

Several equities research analysts recently weighed in on the company. Susquehanna decreased their target price on Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a research note on Monday, March 31st. Stifel Nicolaus decreased their target price on Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Finally, Robert W. Baird decreased their target price on Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th.

Forward Air Stock Performance

Shares of FWRD opened at $18.90 on Wednesday. The stock has a 50-day simple moving average of $17.03 and a 200-day simple moving average of $27.02. The stock has a market capitalization of $574.73 million, a PE ratio of -0.79 and a beta of 1.24. Forward Air has a 1 year low of $9.79 and a 1 year high of $40.92. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its position in Forward Air by 812.5% during the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company's stock worth $26,000 after buying an additional 715 shares during the period. Byrne Asset Management LLC increased its position in Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock worth $35,000 after buying an additional 590 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Forward Air during the fourth quarter worth approximately $72,000. AlphaQuest LLC increased its position in Forward Air by 155.9% during the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock worth $94,000 after buying an additional 1,782 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in Forward Air during the fourth quarter worth approximately $138,000. Institutional investors and hedge funds own 97.03% of the company's stock.

Forward Air Company Profile

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.

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