Forward Air Corporation (NASDAQ:FWRD - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $20.21, but opened at $21.86. Forward Air shares last traded at $21.94, with a volume of 85,290 shares trading hands.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on FWRD shares. Robert W. Baird lowered their price objective on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus reduced their target price on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Finally, Susquehanna decreased their price target on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a research report on Monday, March 31st. One investment 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, the company has a consensus rating of "Hold" and a consensus target price of $32.25.
Read Our Latest Research Report on Forward Air
Forward Air Price Performance
The business has a 50-day simple moving average of $17.30 and a 200 day simple moving average of $24.03. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.13 and a quick ratio of 1.13.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings 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 valued at $934,000 after purchasing an additional 42,914 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Forward Air during the 4th quarter valued at $815,000. Principal Financial Group Inc. lifted its stake in shares of Forward Air by 7.3% during the 4th quarter. Principal Financial Group Inc. now owns 97,148 shares of the transportation company's stock valued at $3,133,000 after buying an additional 6,629 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Forward Air by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock valued at $24,376,000 after buying an additional 79,960 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Forward Air in the 4th quarter worth $320,000. 97.03% of the stock is currently owned by institutional investors.
About Forward Air
(
Get Free Report)
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.
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