Susquehanna Cuts Forward Air (NASDAQ:FWRD) Price Target to $25.00

Forward Air (NASDAQ:FWRD) had its price target reduced by Susquehanna from $29.00 to $25.00 in a research note released on Friday, Marketbeat.com reports. They currently have a positive rating on the transportation company’s stock.

A number of other equities analysts also recently commented on FWRD. Zacks Research downgraded shares of Forward Air from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Weiss Ratings upgraded Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 8th. Wall Street Zen raised Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Stifel Nicolaus lifted their price target on Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $26.00.

Forward Air Stock Performance

NASDAQ FWRD opened at $15.91 on Friday. Forward Air has a 52 week low of $7.86 and a 52 week high of $31.17. The firm has a 50 day moving average of $16.58 and a two-hundred day moving average of $15.35. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 13.98. The stock has a market capitalization of $503.07 million, a PE ratio of -1.79 and a beta of 1.41.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FWRD. Cibc World Market Inc. purchased a new stake in Forward Air in the second quarter valued at $14,485,000. Renaissance Technologies LLC purchased a new position in shares of Forward Air during the first quarter worth about $3,535,000. Dimensional Fund Advisors LP grew its holdings in shares of Forward Air by 108.7% during the first quarter. Dimensional Fund Advisors LP now owns 318,858 shares of the transportation company’s stock worth $5,328,000 after purchasing an additional 166,084 shares during the last quarter. AlpInvest Partners B.V. acquired a new stake in shares of Forward Air during the second quarter worth about $1,396,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Forward Air during the second quarter worth about $846,000. Institutional investors and hedge funds 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, less-than-truckload and other supply chain services. Its offerings include expedited ground transportation, intermodal drayage, truckload services, final-mile delivery, pool distribution and freight forwarding.

The company serves a range of industries, including aviation, automotive, healthcare, retail and manufacturing. Forward Air’s network is focused primarily on North America, with international logistics capabilities provided through its global forwarding operations.

Founded in 1981, Forward Air has historically operated an asset-light transportation model that emphasizes the movement of shipments between key distribution centers and transportation hubs.