Forward Air (NASDAQ:FWRD) Upgraded at Wall Street Zen

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

A number of other equities analysts also recently issued reports on the stock. Susquehanna decreased their price target on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a research note on Monday, March 31st. Stifel Nicolaus decreased their price target on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Finally, Robert W. Baird decreased their price target on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.25.

Forward Air Stock Performance

Shares of NASDAQ:FWRD opened at $22.18 on Friday. The company has a market cap of $674.72 million, a price-to-earnings ratio of -0.76 and a beta of 1.29. The company has a 50-day moving average price of $17.65 and a 200-day moving average price of $23.85. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 7.55. Forward Air has a 12 month low of $9.79 and a 12 month high of $40.92.

Institutional Investors Weigh In On Forward Air

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in Forward Air by 1,194.0% in the first quarter. GAMMA Investing LLC now owns 46,508 shares of the transportation company's stock worth $934,000 after purchasing an additional 42,914 shares during the period. Proficio Capital Partners LLC purchased a new stake in Forward Air in the fourth quarter worth about $815,000. Principal Financial Group Inc. grew its holdings in 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 purchasing an additional 6,629 shares during the period. Charles Schwab Investment Management Inc. grew its holdings 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 worth $24,376,000 after purchasing an additional 79,960 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Forward Air in the fourth quarter worth about $320,000. Hedge funds and other 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.

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