Forward Air (NASDAQ:FWRD) Shares Down 3.5% - Should You Sell?

Shares of Forward Air Corporation (NASDAQ:FWRD - Get Free Report) were down 3.5% during mid-day trading on Wednesday . The stock traded as low as $22.05 and last traded at $22.09. Approximately 231,375 shares traded hands during trading, a decline of 69% from the average daily volume of 747,892 shares. The stock had previously closed at $22.88.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Robert W. Baird lowered their price target on Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Stifel Nicolaus lowered their target price on shares of 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, Susquehanna cut their price target on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $32.25.

Forward Air Stock Down 3.3%

The company has a debt-to-equity ratio of 7.55, a quick ratio of 1.13 and a current ratio of 1.13. The business has a 50-day simple moving average of $17.30 and a two-hundred day simple moving average of $24.03.

Hedge Funds Weigh In On Forward Air

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans lifted its holdings in Forward Air by 2.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,442 shares of the transportation company's stock valued at $498,000 after acquiring an additional 432 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Forward Air by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,251 shares of the transportation company's stock worth $460,000 after buying an additional 498 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Forward Air by 5.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the transportation company's stock valued at $313,000 after acquiring an additional 500 shares during the period. Federated Hermes Inc. grew its holdings in shares of Forward Air by 0.6% in the 4th quarter. Federated Hermes Inc. now owns 103,397 shares of the transportation company's stock worth $3,335,000 after acquiring an additional 572 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in Forward Air by 9.7% during the fourth quarter. Quantinno Capital Management LP now owns 6,949 shares of the transportation company's stock worth $224,000 after purchasing an additional 615 shares during the last quarter. 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.