Forward Air (NASDAQ:FWRD) Raised to “Strong-Buy” at Zacks Research

Forward Air (NASDAQ:FWRD) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday, Zacks reports.

Other research analysts have also issued research reports about the company. Wall Street Zen upgraded Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Susquehanna cut their price objective on shares of Forward Air from $29.00 to $25.00 and set a “positive” rating for the company in a research report on Friday, October 2nd. Stifel Nicolaus set a $27.00 target price on shares of Forward Air in a research note on Thursday. Finally, Weiss Ratings upgraded shares of Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Forward Air Stock Performance

Shares of Forward Air stock opened at $17.62 on Thursday. Forward Air has a one year low of $7.86 and a one year high of $31.17. The company has a market cap of $557.14 million, a price-to-earnings ratio of -1.98 and a beta of 1.41. The company has a debt-to-equity ratio of 13.98, a quick ratio of 1.32 and a current ratio of 1.32. The business’s 50 day moving average price is $16.03 and its 200 day moving average price is $17.74.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FWRD. Prescott Group Capital Management L.L.C. boosted its position in shares of Forward Air by 138.7% during the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 295,726 shares of the transportation company’s stock worth $4,510,000 after acquiring an additional 171,829 shares in the last quarter. WINTON GROUP Ltd acquired a new position in Forward Air in the second quarter valued at approximately $406,000. Engineers Gate Manager LP boosted its holdings in Forward Air by 68.8% in the second quarter. Engineers Gate Manager LP now owns 76,646 shares of the transportation company’s stock valued at $1,035,000 after purchasing an additional 31,241 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Forward Air in the second quarter valued at approximately $28,000. Finally, Squarepoint Ops LLC increased its stake in Forward Air by 12.7% in the second quarter. Squarepoint Ops LLC now owns 194,766 shares of the transportation company’s stock valued at $2,631,000 after purchasing an additional 21,908 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

About Forward Air

Forward Air Corporation (NASDAQ: FWRD) is a transportation and logistics company that provides time-definite freight and supply chain services. Its offerings include expedited less-than-truckload transportation, truckload services, intermodal and drayage operations, final-mile delivery, and other logistics solutions designed for shipments requiring reliable transit times.

The company serves businesses across North America and supports domestic and international supply chains through a network of terminals, transportation partners, and logistics facilities.