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

Forward Air Corporation (NASDAQ:FWRD - Get Free Report) fell 4.6% during mid-day trading on Friday . The company traded as low as $27.39 and last traded at $27.24. 65,795 shares changed 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.

Analysts Set New Price Targets

FWRD has been the subject of several recent research reports. Wall Street Zen upgraded shares of Forward Air from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Susquehanna reduced their price objective on Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a report on Monday, March 31st. Finally, Stifel Nicolaus raised shares of Forward Air from a "hold" rating to a "buy" rating and raised their price target for the stock from $21.00 to $29.00 in a research report on Thursday, June 26th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $34.00.

Forward Air Stock Up 0.9%

The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 7.55. The stock has a market capitalization of $840.50 million, a P/E ratio of -0.95 and a beta of 1.41. The firm has a 50 day simple moving average of $20.72 and a two-hundred day simple moving average of $23.09.

Hedge Funds Weigh In On Forward Air

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Forward Air by 1,194.0% in the first quarter. GAMMA Investing LLC now owns 46,508 shares of the transportation company's stock valued at $934,000 after purchasing an additional 42,914 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in 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 worth $24,376,000 after purchasing an additional 79,960 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Forward Air during the 4th quarter valued at $320,000. Wells Fargo & Company MN boosted its position in shares of Forward Air by 10.2% during the 4th quarter. Wells Fargo & Company MN now owns 30,042 shares of the transportation company's stock worth $969,000 after purchasing an additional 2,773 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Forward Air during the fourth quarter valued at approximately $1,242,000. 97.03% of the stock is currently owned by institutional investors.

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.