Forward Air Corporation (NASDAQ:FWRD) Receives Consensus Rating of “Hold” from Brokerages

Forward Air Corporation (NASDAQ:FWRD) has been assigned a consensus rating of “Hold” from the six brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $35.00.

A number of analysts have issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Forward Air in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a research note on Thursday, January 22nd. Zacks Research lowered shares of Forward Air from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Stifel Nicolaus lifted their target price on shares of Forward Air from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, Susquehanna upped their price objective on Forward Air from $42.00 to $45.00 and gave the company a “positive” rating in a research note on Monday, January 5th.

Forward Air Stock Up 0.7%

Shares of Forward Air stock opened at $27.78 on Friday. Forward Air has a 52-week low of $9.78 and a 52-week high of $32.47. The company has a 50 day moving average of $27.10 and a 200 day moving average of $25.73. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 8.73. The company has a market capitalization of $868.13 million, a P/E ratio of -7.22 and a beta of 1.35.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its position in shares of Forward Air by 20.8% during the 4th quarter. Invesco Ltd. now owns 268,960 shares of the transportation company’s stock valued at $6,724,000 after acquiring an additional 46,240 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in Forward Air during the fourth quarter worth about $36,000. SummitTX Capital L.P. bought a new position in Forward Air in the fourth quarter worth about $4,030,000. One68 Global Capital LLC acquired a new position in Forward Air in the fourth quarter valued at approximately $225,000. Finally, Inspire Investing LLC grew its holdings in shares of Forward Air by 6.0% during the fourth quarter. Inspire Investing LLC now owns 18,636 shares of the transportation company’s stock valued at $466,000 after purchasing an additional 1,055 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

About Forward Air

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.