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

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FWRD shares. Susquehanna boosted their target price on shares of Forward Air from $42.00 to $45.00 and gave the stock a “positive” rating in a research report 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. Stifel Nicolaus upped their price target on shares of Forward Air from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a report on Thursday, January 22nd. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Forward Air in a report on Thursday, November 6th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Forward Air currently has an average rating of “Hold” and a consensus target price of $35.00.

Forward Air Price Performance

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

Institutional Investors Weigh In On Forward Air

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Garton & Associates Financial Advisors LLC bought a new position in Forward Air in the 4th quarter valued at about $36,000. Nisa Investment Advisors LLC boosted its position in Forward Air by 26.9% in the second quarter. Nisa Investment Advisors LLC now owns 2,499 shares of the transportation company’s stock valued at $61,000 after buying an additional 530 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Forward Air by 207.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock worth $64,000 after purchasing an additional 1,753 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Forward Air during the 4th quarter worth approximately $74,000. Finally, AlphaQuest LLC lifted its holdings in Forward Air by 541.5% during the 3rd quarter. AlphaQuest LLC now owns 3,015 shares of the transportation company’s stock worth $77,000 after buying an additional 2,545 shares during the period. Institutional investors own 97.03% of the company’s stock.

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.