Brokerages Set Forward Air Co. (NASDAQ:FWRD) Target Price at $37.00

Shares of Forward Air Co. (NASDAQ:FWRD) have earned a consensus rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $37.00.

Several equities analysts have issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. StockNews.com raised Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Benchmark restated a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. Finally, Robert W. Baird reduced their price objective on Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th.

Institutional Trading of Forward Air

Hedge funds have recently made changes to their positions in the company. Jefferies Financial Group Inc. lifted its position in Forward Air by 148.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 285,670 shares of the transportation company’s stock valued at $9,213,000 after purchasing an additional 170,503 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Forward Air in the fourth quarter worth $72,000. Two Sigma Investments LP lifted its holdings in Forward Air by 2.0% in the fourth quarter. Two Sigma Investments LP now owns 120,272 shares of the transportation company’s stock valued at $3,879,000 after acquiring an additional 2,339 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Forward Air during the 4th quarter worth $315,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of Forward Air by 742.9% in the 4th quarter. Point72 Asset Management L.P. now owns 463,600 shares of the transportation company’s stock valued at $14,951,000 after purchasing an additional 408,600 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Stock Performance

Shares of Forward Air stock opened at $22.15 on Friday. The firm has a market capitalization of $641.33 million, a P/E ratio of -0.93 and a beta of 1.03. 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 52 week low of $11.21 and a 52 week high of $40.92. The firm’s 50 day moving average is $31.21 and its two-hundred day moving average is $33.45.

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.