Forward Air (NASDAQ:FWRD) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Forward Air (NASDAQ:FWRD) from a sell rating to a hold rating in a report issued on Saturday morning.

Several other equities research analysts have also recently commented on FWRD. Robert W. Baird cut their price target on Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Susquehanna cut their price target on Forward Air from $35.00 to $32.00 and set a “positive” rating for the company in a report on Monday, March 31st. Finally, Stifel Nicolaus cut their price target on Forward Air from $29.00 to $22.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Forward Air has a consensus rating of “Hold” and an average target price of $32.25.

Forward Air Price Performance

NASDAQ:FWRD opened at $22.11 on Friday. Forward Air has a one year low of $9.79 and a one year high of $40.92. The company has a debt-to-equity ratio of 7.55, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $672.59 million, a PE ratio of -0.76 and a beta of 1.29. The stock has a 50 day moving average price of $17.80 and a 200 day moving average price of $23.63.

Institutional Investors Weigh In On Forward Air

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FWRD. Littlejohn & Co. LLC increased its stake in Forward Air by 70.1% during the first quarter. Littlejohn & Co. LLC now owns 2,814,401 shares of the transportation company’s stock worth $56,541,000 after acquiring an additional 1,159,747 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Forward Air by 742.9% in the fourth quarter. Point72 Asset Management L.P. now owns 463,600 shares of the transportation company’s stock valued at $14,951,000 after buying an additional 408,600 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Forward Air by 1,179.7% in the first quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company’s stock valued at $6,451,000 after buying an additional 296,001 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Forward Air in the fourth quarter valued at $9,198,000. Finally, Ancora Advisors LLC grew its stake in shares of Forward Air by 28.9% in the first quarter. Ancora Advisors LLC now owns 1,230,390 shares of the transportation company’s stock valued at $24,719,000 after buying an additional 275,500 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Company Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.