Forward Air (NASDAQ:FWRD) Stock Price Down 8.4% – Should You Sell?

Forward Air Corporation (NASDAQ:FWRD) dropped 8.4% during trading on Monday . The stock traded as low as $26.60 and last traded at $25.4770. Approximately 36,746 shares changed hands during trading, a decline of 93% from the average daily volume of 538,565 shares. The stock had previously closed at $27.82.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FWRD. Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a report on Thursday, January 22nd. Susquehanna increased their price objective on shares of Forward Air from $42.00 to $45.00 and gave the company a “positive” rating in a research note on Monday, January 5th. Zacks Research downgraded shares of Forward Air from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Jefferies Financial Group reissued a “buy” rating on shares of Forward Air in a report on Thursday, November 6th. Finally, Stifel Nicolaus lifted their target price on shares of Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $35.00.

Forward Air Trading Down 8.5%

The firm has a market capitalization of $795.69 million, a P/E ratio of -6.62 and a beta of 1.35. The company has a debt-to-equity ratio of 8.73, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a 50-day moving average of $27.15 and a 200-day moving average of $25.66.

Institutional Trading of Forward Air

A number of institutional investors and hedge funds have recently bought and sold shares of FWRD. Clear Harbor Asset Management LLC purchased a new stake in Forward Air during the 3rd quarter valued at $1,091,000. Rothschild Investment LLC grew its stake in shares of Forward Air by 337,481.3% during the 3rd quarter. Rothschild Investment LLC now owns 270,065 shares of the transportation company’s stock valued at $6,924,000 after purchasing an additional 269,985 shares during the period. Private Management Group Inc. increased its position in shares of Forward Air by 8.7% during the 2nd quarter. Private Management Group Inc. now owns 1,046,226 shares of the transportation company’s stock valued at $25,674,000 after purchasing an additional 83,600 shares during the last quarter. Jefferies Financial Group Inc. lifted its stake in shares of Forward Air by 7.0% in the 2nd quarter. Jefferies Financial Group Inc. now owns 384,634 shares of the transportation company’s stock worth $9,439,000 after purchasing an additional 25,283 shares during the period. Finally, Caxton Associates LLP grew its holdings in Forward Air by 124.2% during the second quarter. Caxton Associates LLP now owns 107,113 shares of the transportation company’s stock valued at $2,629,000 after purchasing an additional 59,345 shares during the period. 97.03% of the stock is currently owned by institutional investors.

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.