Forward Air (NASDAQ:FWRD) Upgraded by Wall Street Zen to Hold Rating

Forward Air (NASDAQ:FWRD - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Other research analysts have also recently issued research reports about the company. Susquehanna cut their price target on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a research note on Monday, March 31st. Robert W. Baird dropped their price objective on Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, Stifel Nicolaus cut their target price 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Forward Air has an average rating of "Hold" and a consensus price target of $32.25.

Forward Air Stock Up 1.2%

NASDAQ FWRD traded up $0.26 on Friday, reaching $22.37. The company had a trading volume of 677,727 shares, compared to its average volume of 726,047. The firm has a market capitalization of $680.50 million, a PE ratio of -0.77 and a beta of 1.29. The firm has a 50-day moving average of $17.80 and a 200-day moving average of $23.63. Forward Air has a 1 year low of $9.79 and a 1 year high of $40.92. 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

Several hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC lifted its stake in Forward Air by 812.5% during the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company's stock worth $26,000 after purchasing an additional 715 shares during the last quarter. Byrne Asset Management LLC raised its holdings in shares of Forward Air by 81.3% during the first quarter. Byrne Asset Management LLC now owns 1,940 shares of the transportation company's stock worth $39,000 after purchasing an additional 870 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Forward Air in the 4th quarter worth about $72,000. AlphaQuest LLC boosted its holdings in shares of Forward Air by 155.9% in the 4th quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock valued at $94,000 after buying an additional 1,782 shares during the period. Finally, Aquatic Capital Management LLC bought a new stake in shares of Forward Air during the 4th quarter valued at about $138,000. Institutional investors and hedge funds 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.