Forward Air (NASDAQ:FWRD) Upgraded at Zacks Research

Forward Air (NASDAQ:FWRD) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday, Zacks reports.

Several other brokerages have also recently weighed in on FWRD. Weiss Ratings raised Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 8th. Wall Street Zen upgraded Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Stifel Nicolaus set a $27.00 price objective on Forward Air in a research note on Thursday. Finally, Susquehanna dropped their target price on Forward Air from $29.00 to $25.00 and set a “positive” rating for the company in a report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.00.

Forward Air Stock Down 1.4%

Shares of NASDAQ FWRD opened at $17.62 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 13.98. Forward Air has a 12-month low of $7.86 and a 12-month high of $31.17. The firm’s 50-day moving average price is $16.03 and its 200-day moving average price is $17.74. The stock has a market capitalization of $557.14 million, a price-to-earnings ratio of -1.98 and a beta of 1.41.

Institutional Investors Weigh In On Forward Air

Several hedge funds and other institutional investors have recently made changes to their positions in FWRD. BlackRock Inc. bought a new stake in shares of Forward Air in the 2nd quarter worth about $37,485,000. Cibc World Market Inc. purchased a new position in shares of Forward Air during the 2nd quarter worth about $14,485,000. Deutsche Bank AG bought a new position in Forward Air during the 2nd quarter valued at about $8,293,000. Dimensional Fund Advisors LP grew its holdings in Forward Air by 108.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 318,858 shares of the transportation company’s stock valued at $5,328,000 after purchasing an additional 166,084 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. raised its position in Forward Air by 138.7% in the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 295,726 shares of the transportation company’s stock worth $4,510,000 after purchasing an additional 171,829 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Company Profile

Forward Air Corporation (NASDAQ: FWRD) is a transportation and logistics company that provides time-definite freight and supply chain services. Its offerings include expedited less-than-truckload transportation, truckload services, intermodal and drayage operations, final-mile delivery, and other logistics solutions designed for shipments requiring reliable transit times.

The company serves businesses across North America and supports domestic and international supply chains through a network of terminals, transportation partners, and logistics facilities.