Forward Air Corporation (NASDAQ:FWRD) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Forward Air Corporation (NASDAQ:FWRD - Get Free Report) have received a consensus rating of "Moderate Buy" from the five analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $34.00.

Several equities analysts have recently issued reports on the stock. Susquehanna reduced their price target on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a report on Monday, March 31st. Wall Street Zen raised shares of Forward Air from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Stifel Nicolaus raised shares of Forward Air from a "hold" rating to a "buy" rating and boosted their price target for the company from $21.00 to $29.00 in a report on Thursday, June 26th.

Forward Air Stock Performance

FWRD stock traded up $0.15 during trading on Thursday, hitting $26.47. 308,686 shares of the company's stock traded hands, compared to its average volume of 718,674. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 7.55. Forward Air has a 52 week low of $9.79 and a 52 week high of $40.92. The stock has a fifty day moving average price of $19.52 and a two-hundred day moving average price of $23.19. The stock has a market capitalization of $805.07 million, a price-to-earnings ratio of -0.91 and a beta of 1.41.

Hedge Funds Weigh In On Forward Air

A number of large investors have recently made changes to their positions in FWRD. Littlejohn & Co. LLC increased its holdings in shares of Forward Air by 70.1% in the 1st quarter. Littlejohn & Co. LLC now owns 2,814,401 shares of the transportation company's stock valued at $56,541,000 after purchasing an additional 1,159,747 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Forward Air by 742.9% in the 4th quarter. Point72 Asset Management L.P. now owns 463,600 shares of the transportation company's stock valued at $14,951,000 after purchasing an additional 408,600 shares during the period. Royal Bank of Canada increased its holdings in shares of Forward Air by 1,179.7% in the 1st quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company's stock valued at $6,451,000 after purchasing an additional 296,001 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of Forward Air in the 4th quarter valued at about $9,198,000. Finally, Ancora Advisors LLC increased its holdings in shares of Forward Air by 28.9% in the 1st quarter. Ancora Advisors LLC now owns 1,230,390 shares of the transportation company's stock valued at $24,719,000 after purchasing an additional 275,500 shares during the period. 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.