Forward Air (NASDAQ:FWRD) Upgraded 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.

FWRD has been the topic of a number of other reports. Weiss Ratings upgraded Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Zacks Research raised Forward Air from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Susquehanna lowered their price target on Forward Air from $42.00 to $18.00 and set a “positive” rating on the stock in a research report on Friday, May 8th. Finally, Stifel Nicolaus raised their price objective on Forward Air from $19.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.50.

Forward Air Stock Down 3.0%

FWRD stock opened at $18.77 on Friday. Forward Air has a one year low of $7.86 and a one year high of $32.00. The company has a debt-to-equity ratio of 13.98, a quick ratio of 1.32 and a current ratio of 1.32. The firm’s fifty day moving average is $13.76 and its 200 day moving average is $17.84. The firm has a market cap of $593.51 million, a PE ratio of -2.11 and a beta of 1.36.

Institutional Trading of Forward Air

Institutional investors and hedge funds have recently modified their holdings of the stock. AlpInvest Partners B.V. acquired a new position in shares of Forward Air during the 2nd quarter worth about $1,396,000. Carlyle Group Inc. purchased a new position in Forward Air in the 2nd quarter valued at about $1,448,000. BlackRock Inc. acquired a new stake in Forward Air in the 2nd quarter worth about $37,485,000. Deutsche Bank AG acquired a new stake in Forward Air in the 2nd quarter worth about $8,293,000. Finally, Persistent Asset Partners Ltd purchased a new stake in Forward Air during the 2nd quarter worth approximately $148,000. Hedge funds and other 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.