Forward Air Corporation (NASDAQ:FWRD) Stock Has Average Target Price of $28.00 According to Brokerages

Shares of Forward Air Corporation (NASDAQ:FWRD) have received an average rating of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $28.00.

FWRD has been the topic of several recent research reports. Weiss Ratings upgraded shares of Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 8th. Stifel Nicolaus increased their price target on shares of Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Susquehanna lifted their price objective on Forward Air from $18.00 to $29.00 and gave the company a “positive” rating in a report on Thursday, August 13th. Finally, Zacks Research lowered Forward Air from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd.

Institutional Trading of Forward Air

A number of large investors have recently bought and sold shares of the stock. WINTON GROUP Ltd acquired a new stake in shares of Forward Air during the second quarter worth approximately $406,000. Engineers Gate Manager LP raised its stake in shares of 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 acquiring an additional 31,241 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Forward Air in the 2nd quarter worth approximately $28,000. Squarepoint Ops LLC grew its position in Forward Air by 12.7% during the 2nd quarter. Squarepoint Ops LLC now owns 194,766 shares of the transportation company’s stock worth $2,631,000 after acquiring an additional 21,908 shares during the last quarter. Finally, Corient Private Wealth LP bought a new stake in Forward Air during the 2nd quarter worth approximately $175,000. 97.03% of the stock is currently owned by institutional investors.

Forward Air Stock Up 1.6%

Shares of FWRD stock opened at $15.25 on Friday. Forward Air has a one year low of $7.86 and a one year high of $31.17. The company has a debt-to-equity ratio of 13.98, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a fifty day moving average price of $16.57 and a 200 day moving average price of $15.36. The stock has a market cap of $482.20 million, a P/E ratio of -1.71 and a beta of 1.38.

Forward Air Company Profile

Forward Air Corporation (NASDAQ: FWRD) is a transportation and logistics company that provides time-definite, expedited freight and supply-chain services. Its operations support the movement of shipments that require reliable scheduling, specialized handling, or faster transit than traditional freight services.

The company’s service offerings include less-than-truckload transportation, truckload and intermodal services, final-mile delivery, freight forwarding, customs brokerage, warehousing, and related logistics solutions.