Forward Air (NASDAQ:FWRD) Stock Price Down 4.9% – Time to Sell?

Forward Air Co. (NASDAQ:FWRD)’s stock price traded down 4.9% during trading on Monday . The stock traded as low as $30.18 and last traded at $30.68. 397,372 shares were traded during mid-day trading, a decline of 19% from the average session volume of 493,242 shares. The stock had previously closed at $32.25.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FWRD shares. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. StockNews.com raised Forward Air to a “sell” rating in a research note on Wednesday, November 6th. Stifel Nicolaus raised their price target on shares of Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group set a $47.00 price target on shares of Forward Air and gave the company a “buy” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $35.67.

Forward Air Stock Performance

The company’s fifty day moving average is $32.82 and its 200 day moving average is $32.88. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The company has a market capitalization of $915.69 million, a P/E ratio of -1.33 and a beta of 1.03.

Hedge Funds Weigh In On Forward Air

A number of hedge funds and other institutional investors have recently bought and sold shares of FWRD. Byrne Asset Management LLC lifted its stake in shares of Forward Air by 122.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 590 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Forward Air in the third quarter valued at about $39,000. Nisa Investment Advisors LLC boosted its holdings in shares of Forward Air by 62.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after purchasing an additional 763 shares during the period. GAMMA Investing LLC grew its stake in shares of Forward Air by 89.2% in the third quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock worth $133,000 after purchasing an additional 1,776 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new position in Forward Air during the 3rd quarter valued at about $224,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.