Forward Air (NASDAQ:FWRD) Given New $32.00 Price Target at Susquehanna

Forward Air (NASDAQ:FWRD) had its price target decreased by Susquehanna from $35.00 to $32.00 in a research report report published on Monday,Benzinga reports. Susquehanna currently has a positive rating on the transportation company’s stock.

FWRD has been the subject of a number of other research reports. Benchmark reiterated a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. Stifel Nicolaus boosted their price target on shares of Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Finally, Robert W. Baird cut 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.75.

Forward Air Stock Performance

FWRD opened at $20.09 on Monday. The company has a 50 day simple moving average of $26.45 and a two-hundred day simple moving average of $31.79. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $610.80 million, a P/E ratio of -0.84 and a beta of 1.08. Forward Air has a 1-year low of $11.21 and a 1-year high of $40.92.

Institutional Investors Weigh In On Forward Air

Hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC grew its stake in shares of Forward Air by 812.5% in the 4th quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company’s stock worth $26,000 after buying an additional 715 shares in the last quarter. Byrne Asset Management LLC raised its position in shares of Forward Air by 122.9% during the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 590 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Forward Air in the 4th quarter valued at about $72,000. AlphaQuest LLC grew its position in Forward Air by 155.9% in the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock worth $94,000 after acquiring an additional 1,782 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in Forward Air during the fourth quarter worth approximately $138,000. 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.