Forward Air (NASDAQ:FWRD) Shares Up 8.9% – Time to Buy?

Shares of Forward Air Co. (NASDAQ:FWRD) shot up 8.9% during trading on Monday . The stock traded as high as $19.19 and last traded at $20.36. 13,801 shares were traded during mid-day trading, a decline of 98% from the average session volume of 765,044 shares. The stock had previously closed at $18.69.

Wall Street Analyst Weigh In

Several brokerages have commented on FWRD. Robert W. Baird decreased their price target on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Susquehanna cut their price target on shares of Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a research note on Monday, March 31st. Finally, Stifel Nicolaus cut their price target on shares of Forward Air from $29.00 to $22.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.25.

Forward Air Stock Up 5.9%

The company has a market cap of $601.95 million, a PE ratio of -0.83 and a beta of 1.29. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. The firm’s fifty day simple moving average is $16.15 and its 200-day simple moving average is $24.71.

Hedge Funds Weigh In On Forward Air

Institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC raised its position in shares of Forward Air by 812.5% in the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company’s stock valued at $26,000 after buying an additional 715 shares during the last quarter. Byrne Asset Management LLC raised its position in shares of Forward Air by 81.3% in the first quarter. Byrne Asset Management LLC now owns 1,940 shares of the transportation company’s stock valued at $39,000 after buying an additional 870 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Forward Air in the fourth quarter valued at approximately $72,000. AlphaQuest LLC raised its position in shares of Forward Air by 155.9% in the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock valued at $94,000 after buying an additional 1,782 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in shares of Forward Air in the fourth quarter valued at approximately $138,000. Institutional investors and hedge funds 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.