Forward Air (NASDAQ:FWRD) Rating Lowered to “Hold” at Zacks Research

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

Several other analysts have also recently issued reports on the stock. Susquehanna increased their target price on shares of Forward Air from $18.00 to $29.00 and gave the stock a “positive” rating in a research note on Thursday, August 13th. Wall Street Zen upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings cut shares of Forward Air from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 21st. Finally, Stifel Nicolaus increased their price objective on Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.00.

Forward Air Trading Up 9.7%

NASDAQ FWRD opened at $17.89 on Thursday. The business’s fifty day moving average is $15.80 and its 200-day moving average is $16.52. The company has a debt-to-equity ratio of 13.98, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $565.68 million, a price-to-earnings ratio of -2.01 and a beta of 1.38. Forward Air has a one year low of $7.86 and a one year high of $31.30.

Institutional Trading of Forward Air

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Garton & Associates Financial Advisors LLC bought a new position in shares of Forward Air during the 4th quarter valued at $36,000. Tower Research Capital LLC TRC boosted its position in Forward Air by 207.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock valued at $64,000 after buying an additional 1,753 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Forward Air during the fourth quarter valued at about $74,000. Allied Private Wealth LLC purchased a new position in shares of Forward Air in the second quarter worth about $57,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Forward Air in the second quarter worth about $107,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.