Forward Air Co. (NASDAQ:FWRD) Given Consensus Rating of “Hold” by Brokerages

Forward Air Co. (NASDAQ:FWRD) has received a consensus rating of “Hold” from the five ratings firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $39.25.

Several research analysts have recently weighed in on FWRD shares. Jefferies Financial Group set a $47.00 price objective on Forward Air and gave the stock a “buy” rating in a research report on Friday, October 18th. StockNews.com raised Forward Air to a “sell” rating in a research note on Wednesday, November 6th. Stifel Nicolaus raised their price objective on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, Benchmark reissued a “hold” rating on shares of Forward Air in a research note on Tuesday.

Forward Air Price Performance

Shares of NASDAQ FWRD opened at $32.01 on Thursday. The company has a market capitalization of $926.82 million, a PE ratio of -1.34 and a beta of 1.04. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air has a twelve month low of $11.21 and a twelve month high of $63.63. The firm has a fifty day simple moving average of $33.62 and a 200 day simple moving average of $31.16.

Hedge Funds Weigh In On Forward Air

A number of institutional investors have recently modified their holdings of FWRD. Northwest Investment Counselors LLC bought a new stake in Forward Air during the 3rd quarter valued at $39,000. Point72 DIFC Ltd bought a new stake in shares of Forward Air during the second quarter worth about $26,000. Nisa Investment Advisors LLC raised its holdings in shares of Forward Air by 62.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after acquiring an additional 763 shares during the last quarter. GAMMA Investing LLC lifted its position in Forward Air by 89.2% in the 3rd quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock valued at $133,000 after acquiring an additional 1,776 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in Forward Air during the 3rd quarter valued at about $224,000. 97.03% of the stock is owned by institutional investors and hedge funds.

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.