Forward Air Corporation (NASDAQ:FWRD) Receives Average Recommendation of "Moderate Buy" from Brokerages

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

A number of analysts recently issued reports on the company. Susquehanna decreased their price objective on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a research note on Monday, March 31st. Wall Street Zen upgraded Forward Air from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Stifel Nicolaus upgraded Forward Air from a "hold" rating to a "buy" rating and boosted their price objective for the company from $21.00 to $29.00 in a research note on Thursday, June 26th.

Hedge Funds Weigh In On Forward Air

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Inspire Investing LLC grew its position in Forward Air by 36.1% during the first quarter. Inspire Investing LLC now owns 17,153 shares of the transportation company's stock worth $345,000 after buying an additional 4,552 shares in the last quarter. Intech Investment Management LLC grew its position in Forward Air by 64.2% during the first quarter. Intech Investment Management LLC now owns 73,040 shares of the transportation company's stock worth $1,467,000 after buying an additional 28,564 shares in the last quarter. Caxton Associates LLP purchased a new position in Forward Air during the first quarter worth about $960,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Forward Air by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company's stock worth $299,000 after buying an additional 624 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Forward Air by 7.0% during the first quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company's stock worth $201,000 after buying an additional 654 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Forward Air Stock Performance

Shares of FWRD traded up $0.15 during mid-day trading on Thursday, hitting $26.47. The stock had a trading volume of 308,686 shares, compared to its average volume of 718,237. The firm has a market cap of $805.07 million, a P/E ratio of -0.91 and a beta of 1.41. The business has a fifty day moving average price of $19.52 and a 200-day moving average price of $23.24. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.13 and a quick ratio of 1.13. Forward Air has a 52 week low of $9.79 and a 52 week high of $40.92.

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.