Benchmark Reaffirms “Hold” Rating for Forward Air (NASDAQ:FWRD)

Forward Air (NASDAQ:FWRD)‘s stock had its “hold” rating reiterated by analysts at Benchmark in a research report issued on Tuesday,Benzinga reports.

FWRD has been the subject of a number of other research reports. StockNews.com upgraded shares of Forward Air to a “sell” rating in a research note on Wednesday, November 6th. Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Stifel Nicolaus increased their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.25.

Forward Air Price Performance

Shares of NASDAQ FWRD opened at $32.01 on Tuesday. 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 fifty-two week low of $11.21 and a fifty-two week high of $63.63. The business has a 50 day moving average price of $33.62 and a two-hundred day moving average price of $31.16. The firm has a market cap of $926.82 million, a PE ratio of -1.34 and a beta of 1.04.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Forward Air by 33.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,218 shares of the transportation company’s stock worth $137,000 after acquiring an additional 1,803 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Forward Air by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 89,457 shares of the transportation company’s stock worth $1,703,000 after purchasing an additional 1,828 shares during the last quarter. American Century Companies Inc. boosted its position in Forward Air by 3.3% during the 2nd quarter. American Century Companies Inc. now owns 45,734 shares of the transportation company’s stock valued at $871,000 after purchasing an additional 1,478 shares during the period. Federated Hermes Inc. grew its stake in Forward Air by 712.5% during the 2nd quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock worth $12,965,000 after buying an additional 597,120 shares during the last quarter. Finally, MFN Partners Management LP acquired a new stake in Forward Air in the second quarter worth $17,208,000. 97.03% of the stock is owned by institutional investors and hedge funds.

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.