Forward Air (NASDAQ:FWRD) Shares Down 5.8% - Should You Sell?

Key Points

• Forward Air shares fell 5.8% to about $19.04, with trading volume down 82% from its average. The company has a market capitalization of approximately $595 million and a negative price-to-earnings ratio.
• Analyst sentiment is broadly positive: Forward Air has a consensus rating of “Moderate Buy” and an average price target of $28, despite one sell rating. Recent firms upgraded the stock, with price targets ranging from $27 to $29.
• Institutional investors own approximately 97% of Forward Air’s shares, while several hedge funds recently increased their holdings. The company provides expedited ground transportation, logistics, drayage and final-mile delivery services across North America.

Forward Air Corporation (NASDAQ:FWRD - Get Free Report)'s stock price was down 5.8% on Friday . The company traded as low as $19.13 and last traded at $19.0350. Approximately 169,365 shares changed hands during trading, a decline of 82% from the average daily volume of 960,185 shares. The stock had previously closed at $20.20.

Analyst Upgrades and Downgrades

FWRD has been the topic of a number of research reports. Wall Street Zen raised shares of Forward Air from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Forward Air from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 6th. Stifel Nicolaus lifted their price target on shares of Forward Air from $19.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Susquehanna increased their price objective on shares of Forward Air from $18.00 to $29.00 and gave the stock a "positive" rating in a research note on Thursday. Finally, Zacks Research upgraded Forward Air from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $28.00.

Forward Air Stock Performance

The stock has a 50 day moving average of $14.33 and a 200 day moving average of $17.66. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 13.98. The firm has a market cap of $594.74 million, a price-to-earnings ratio of -2.12 and a beta of 1.36.

Hedge Funds Weigh In On Forward Air

A number of hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Forward Air by 4.4% during the 1st 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 during the period. AQR Capital Management LLC raised its position in shares of 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 acquiring an additional 654 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Forward Air by 1.5% in the fourth quarter. LPL Financial LLC now owns 43,228 shares of the transportation company's stock worth $1,081,000 after acquiring an additional 655 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Forward Air by 5.2% in the second quarter. Thrivent Financial for Lutherans now owns 15,436 shares of the transportation company's stock worth $379,000 after acquiring an additional 762 shares during the period. Finally, Logan Capital Management Inc. lifted its stake in shares of Forward Air by 11.7% in the third quarter. Logan Capital Management Inc. now owns 7,575 shares of the transportation company's stock worth $194,000 after acquiring an additional 791 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Forward Air Company Profile

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.

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