Forward Air (NASDAQ:FWRD) Shares Down 5.8% – Should You Sell?

Forward Air Corporation (NASDAQ:FWRD) was down 5.8% during mid-day trading on Friday . The company traded as low as $19.13 and last traded at $19.0350. Approximately 169,365 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 960,185 shares. The stock had previously closed at $20.20.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Stifel Nicolaus boosted their target price on shares of Forward Air from $19.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wall Street Zen upgraded Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Susquehanna lifted their price objective on Forward Air from $18.00 to $29.00 and gave the stock a “positive” rating in a research report on Thursday. Finally, Zacks Research raised Forward Air from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Forward Air Trading Down 6.9%

The firm’s 50 day simple moving average is $14.33 and its two-hundred day simple moving average is $17.66. The stock has a market capitalization of $594.74 million, a P/E ratio of -2.12 and a beta of 1.36. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 13.98.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in shares of Forward Air during the first quarter valued at about $3,535,000. Dimensional Fund Advisors LP lifted its position in Forward Air by 108.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 318,858 shares of the transportation company’s stock valued at $5,328,000 after acquiring an additional 166,084 shares in the last quarter. Royce & Associates LP lifted its position in Forward Air by 60.7% in the 4th quarter. Royce & Associates LP now owns 281,553 shares of the transportation company’s stock valued at $7,039,000 after acquiring an additional 106,364 shares in the last quarter. Melqart Asset Management UK Ltd boosted its stake in Forward Air by 122.3% during the 4th quarter. Melqart Asset Management UK Ltd now owns 849,876 shares of the transportation company’s stock valued at $21,247,000 after purchasing an additional 467,482 shares during the last quarter. Finally, Cornerstone Wealth LLC TN acquired a new position in Forward Air during the 1st quarter valued at about $319,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Forward Air Company Profile

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.