Forward Air (NASDAQ:FWRD) Trading Down 4.6% - Should You Sell?

Forward Air Corporation (NASDAQ:FWRD - Get Free Report) fell 4.6% during mid-day trading on Friday . The stock traded as low as $27.39 and last traded at $27.24. 65,795 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 712,603 shares. The stock had previously closed at $28.56.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FWRD. Wall Street Zen raised Forward Air from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Susquehanna cut their price target on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a research report on Monday, March 31st. Finally, Stifel Nicolaus raised 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

Forward Air Stock Down 4.2%

The company has a market cap of $832.60 million, a PE ratio of -0.94 and a beta of 1.41. The business has a fifty day simple moving average of $20.72 and a two-hundred day simple moving average of $23.17. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 7.55.

Institutional Investors Weigh In On Forward Air

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Forward Air by 1,194.0% during the first quarter. GAMMA Investing LLC now owns 46,508 shares of the transportation company's stock worth $934,000 after buying an additional 42,914 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Forward Air by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock valued at $24,376,000 after purchasing an additional 79,960 shares during the period. Raymond James Financial Inc. acquired a new stake in Forward Air during the fourth quarter worth about $320,000. Wells Fargo & Company MN boosted its holdings in Forward Air by 10.2% in the 4th quarter. Wells Fargo & Company MN now owns 30,042 shares of the transportation company's stock valued at $969,000 after purchasing an additional 2,773 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Forward Air in the 4th quarter valued at approximately $1,242,000. Institutional investors and hedge funds own 97.03% of the company's stock.

About Forward Air

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.