Stifel Nicolaus Boosts Forward Air (NASDAQ:FWRD) Price Target to $33.00

Forward Air (NASDAQ:FWRD - Get Free Report) had its price objective lifted by stock analysts at Stifel Nicolaus from $29.00 to $33.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the transportation company's stock. Stifel Nicolaus' price objective suggests a potential upside of 4.88% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Susquehanna lowered their price target on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a research report on Monday, March 31st. Wall Street Zen upgraded Forward Air from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Forward Air currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.

Forward Air Price Performance

FWRD stock traded up $1.02 during mid-day trading on Thursday, reaching $31.47. 368,885 shares of the company's stock were exchanged, compared to its average volume of 664,174. The company has a market cap of $957.17 million, a price-to-earnings ratio of -1.08 and a beta of 1.41. The stock's 50 day moving average is $22.31 and its 200 day moving average is $22.96. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.13 and a quick ratio of 1.13. Forward Air has a 12-month low of $9.78 and a 12-month high of $40.92.

Hedge Funds Weigh In On Forward Air

A number of hedge funds have recently made changes to their positions in FWRD. Littlejohn & Co. LLC raised its holdings in shares of Forward Air by 70.1% during the first quarter. Littlejohn & Co. LLC now owns 2,814,401 shares of the transportation company's stock valued at $56,541,000 after acquiring an additional 1,159,747 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Forward Air by 742.9% during the fourth quarter. Point72 Asset Management L.P. now owns 463,600 shares of the transportation company's stock valued at $14,951,000 after acquiring an additional 408,600 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Forward Air by 1,179.7% in the first quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company's stock valued at $6,451,000 after purchasing an additional 296,001 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Forward Air in the fourth quarter valued at approximately $9,198,000. Finally, Ancora Advisors LLC increased its holdings in shares of Forward Air by 28.9% in the first quarter. Ancora Advisors LLC now owns 1,230,390 shares of the transportation company's stock valued at $24,719,000 after purchasing an additional 275,500 shares during the last quarter. Institutional investors and hedge funds 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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