Analysts Set Forward Air Co. (NASDAQ:FWRD) Price Target at $32.25

Forward Air Co. (NASDAQ:FWRD) has been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $32.25.

FWRD has been the subject of a number of research analyst reports. Stifel Nicolaus lowered 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. Susquehanna lowered their price objective on Forward Air from $35.00 to $32.00 and set a “positive” rating for the company in a research note on Monday, March 31st. Finally, Robert W. Baird lowered their price objective on Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th.

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 lifted its position in Forward Air by 70.1% in the first quarter. Littlejohn & Co. LLC now owns 2,814,401 shares of the transportation company’s stock worth $56,541,000 after purchasing an additional 1,159,747 shares during the period. Vanguard Group Inc. lifted its position in shares of Forward Air by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 2,050,268 shares of the transportation company’s stock valued at $41,190,000 after acquiring an additional 6,702 shares during the last quarter. Ancora Advisors LLC lifted its holdings 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 purchasing an additional 275,500 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Forward Air by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 761,231 shares of the transportation company’s stock worth $15,293,000 after acquiring an additional 5,388 shares during the period. Finally, Penn Capital Management Company LLC boosted its position in Forward Air by 23.5% during the 1st quarter. Penn Capital Management Company LLC now owns 470,576 shares of the transportation company’s stock worth $9,475,000 after acquiring an additional 89,629 shares during the period. Institutional investors own 97.03% of the company’s stock.

Forward Air Price Performance

Shares of NASDAQ FWRD opened at $19.17 on Wednesday. Forward Air has a twelve month low of $9.79 and a twelve month high of $40.92. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The company has a market capitalization of $583.21 million, a price-to-earnings ratio of -0.80 and a beta of 1.24. The business has a 50 day simple moving average of $17.04 and a 200-day simple moving average of $26.72.

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.