Forward Air (NASDAQ:FWRD) Raised to “Hold” at Wall Street Zen

Forward Air (NASDAQ:FWRD) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other analysts have also issued reports on the company. Robert W. Baird decreased their price objective on Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus decreased their target price on Forward Air from $29.00 to $22.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Finally, Susquehanna decreased their target price on Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a research note on Monday, March 31st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Forward Air has a consensus rating of “Hold” and an average target price of $32.25.

Forward Air Stock Performance

NASDAQ:FWRD opened at $22.18 on Friday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 1.13 and a current ratio of 1.13. Forward Air has a 52-week low of $9.79 and a 52-week high of $40.92. The firm has a market cap of $674.72 million, a price-to-earnings ratio of -0.76 and a beta of 1.29. The business’s fifty day moving average is $17.65 and its 200 day moving average is $23.71.

Hedge Funds Weigh In On Forward Air

A number of hedge funds and other institutional investors have recently modified their holdings of FWRD. Sterling Capital Management LLC boosted its holdings in shares of Forward Air by 812.5% in the 4th quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company’s stock worth $26,000 after purchasing an additional 715 shares in the last quarter. Byrne Asset Management LLC boosted its holdings in shares of Forward Air by 81.3% in the 1st quarter. Byrne Asset Management LLC now owns 1,940 shares of the transportation company’s stock worth $39,000 after purchasing an additional 870 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Forward Air during the 4th quarter valued at about $72,000. AlphaQuest LLC boosted its holdings in Forward Air by 155.9% during the 4th quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock valued at $94,000 after acquiring an additional 1,782 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in Forward Air during the 4th quarter valued at about $138,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

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.