Forward Air (NASDAQ:FWRD) Shares Down 3.3% - Should You Sell?

Forward Air Co. (NASDAQ:FWRD - Get Free Report)'s stock price was down 3.3% on Wednesday . The company traded as low as $17.40 and last traded at $17.39. Approximately 25,167 shares changed hands during trading, a decline of 97% from the average daily volume of 777,281 shares. The stock had previously closed at $17.99.

Analyst Upgrades and Downgrades

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

Forward Air Stock Up 3.4%

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The stock has a market cap of $565.87 million, a P/E ratio of -0.78 and a beta of 1.29. The firm has a 50-day simple moving average of $16.20 and a two-hundred day simple moving average of $25.06.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Proficio Capital Partners LLC acquired a new stake in Forward Air in the fourth quarter valued at about $815,000. Principal Financial Group Inc. lifted its stake in shares of Forward Air by 7.3% in the fourth quarter. Principal Financial Group Inc. now owns 97,148 shares of the transportation company's stock worth $3,133,000 after acquiring an additional 6,629 shares during the period. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $24,376,000 after buying an additional 79,960 shares during the period. Raymond James Financial Inc. acquired a new position in Forward Air in the fourth quarter valued at approximately $320,000. Finally, Wells Fargo & Company MN lifted its stake in Forward Air by 10.2% in the fourth quarter. Wells Fargo & Company MN now owns 30,042 shares of the transportation company's stock valued at $969,000 after buying an additional 2,773 shares during the period. Institutional investors own 97.03% of the company's stock.

Forward Air Company Profile

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.