Forward Air (NASDAQ:FWRD) Price Target Raised to $36.00

Forward Air (NASDAQ:FWRD) had its target price upped by Stifel Nicolaus from $34.00 to $36.00 in a report issued on Thursday morning,Benzinga reports. They currently have a hold rating on the transportation company’s stock.

Several other research firms have also issued reports on FWRD. Jefferies Financial Group set a $47.00 price objective on Forward Air and gave the company a “buy” rating in a research note on Friday, October 18th. StockNews.com upgraded Forward Air to a “sell” rating in a research note on Wednesday, November 6th. Finally, Benchmark reaffirmed a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.67.

Forward Air Stock Up 0.1 %

NASDAQ:FWRD opened at $33.51 on Thursday. The stock’s fifty day moving average price is $33.15 and its two-hundred day moving average price is $32.37. The company has a market cap of $970.11 million, a price-to-earnings ratio of -1.41 and a beta of 1.04. Forward Air has a 52-week low of $11.21 and a 52-week high of $49.55. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21.

Institutional Trading of Forward Air

Large investors have recently bought and sold shares of the business. Goldentree Asset Management LP acquired a new stake in Forward Air during the third quarter worth approximately $14,270,000. Point72 Asset Management L.P. grew its holdings in Forward Air by 11,740.6% in the second quarter. Point72 Asset Management L.P. now owns 372,500 shares of the transportation company’s stock worth $7,092,000 after purchasing an additional 375,700 shares during the period. Assenagon Asset Management S.A. bought a new stake in Forward Air in the fourth quarter valued at $11,140,000. JPMorgan Chase & Co. raised its holdings in shares of Forward Air by 688.6% during the third quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company’s stock valued at $11,573,000 after purchasing an additional 285,465 shares during the period. Finally, Verition Fund Management LLC boosted its position in shares of Forward Air by 1,481.6% during the 3rd quarter. Verition Fund Management LLC now owns 208,396 shares of the transportation company’s stock worth $7,377,000 after purchasing an additional 195,220 shares in the last quarter. 97.03% of the stock is currently 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.