Forward Air (NASDAQ:FWRD) Shares Down 3.3% - What's Next?

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FWRD. Robert W. Baird reduced their price objective on Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus reduced their price objective on Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Finally, Susquehanna reduced their price objective 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. 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's stock. According to data from MarketBeat.com, Forward Air presently has an average rating of "Hold" and a consensus target price of $32.25.

Forward Air Stock Up 0.5%

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 50-day simple moving average of $16.15 and a 200-day simple moving average of $24.78. The company has a market cap of $568.61 million, a price-to-earnings ratio of -0.78 and a beta of 1.29.

Institutional Trading of Forward Air

Hedge funds and other institutional investors have recently modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in shares of Forward Air in the 4th quarter worth $815,000. Principal Financial Group Inc. raised its stake in shares of Forward Air by 7.3% in the 4th quarter. Principal Financial Group Inc. now owns 97,148 shares of the transportation company's stock worth $3,133,000 after buying an additional 6,629 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Forward Air by 11.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock worth $24,376,000 after buying an additional 79,960 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Forward Air in the 4th quarter worth $320,000. Finally, Wells Fargo & Company MN raised its stake in shares of Forward Air by 10.2% in the 4th quarter. Wells Fargo & Company MN now owns 30,042 shares of the transportation company's stock worth $969,000 after buying an additional 2,773 shares in the last quarter. 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.