Forward Air (NASDAQ:FWRD) Trading 13.4% Higher - Should You Buy?

Forward Air Co. (NASDAQ:FWRD - Get Free Report)'s stock price rose 13.4% on Monday . The company traded as high as $19.07 and last traded at $18.50. Approximately 90,147 shares were traded during trading, a decline of 90% from the average daily volume of 860,860 shares. The stock had previously closed at $16.32.

Analyst Upgrades and Downgrades

FWRD has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their price objective on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Robert W. Baird reduced their price objective on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, Susquehanna dropped their target price on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Forward Air presently has an average rating of "Hold" and a consensus price target of $32.25.

Forward Air Price Performance

The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The stock's fifty day moving average is $16.99 and its 200-day moving average is $26.97. The stock has a market cap of $569.94 million, a PE ratio of -0.78 and a beta of 1.24.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Penn Capital Management Company LLC boosted its stake in Forward Air by 23.5% during the first quarter. Penn Capital Management Company LLC now owns 470,576 shares of the transportation company's stock worth $9,475,000 after buying an additional 89,629 shares during the period. Jump Financial LLC boosted its stake in Forward Air by 1,357.6% during the first quarter. Jump Financial LLC now owns 128,971 shares of the transportation company's stock worth $2,591,000 after buying an additional 120,123 shares during the period. Quantbot Technologies LP boosted its stake in Forward Air by 43.7% during the first quarter. Quantbot Technologies LP now owns 54,773 shares of the transportation company's stock worth $1,100,000 after buying an additional 16,659 shares during the period. American Century Companies Inc. boosted its stake in Forward Air by 188.2% during the first quarter. American Century Companies Inc. now owns 28,349 shares of the transportation company's stock worth $570,000 after buying an additional 18,511 shares during the period. Finally, Fox Run Management L.L.C. boosted its stake in Forward Air by 18.1% during the first quarter. Fox Run Management L.L.C. now owns 10,980 shares of the transportation company's stock worth $221,000 after buying an additional 1,684 shares during the period. Hedge funds and other institutional investors 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.