Forward Air Corporation (NASDAQ:FWRD) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Forward Air Corporation (NASDAQ:FWRD) have earned an average recommendation of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $28.00.

Several equities analysts recently issued reports on FWRD shares. Zacks Research raised shares of Forward Air from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Weiss Ratings cut shares of Forward Air from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. Wall Street Zen raised shares of Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Stifel Nicolaus lifted their target price on shares of Forward Air from $19.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Susquehanna boosted their target price on Forward Air from $18.00 to $29.00 and gave the stock a “positive” rating in a report on Thursday, August 13th.

Hedge Funds Weigh In On Forward Air

Several institutional investors have recently bought and sold shares of FWRD. BlackRock Inc. acquired a new position in Forward Air in the second quarter worth $37,485,000. Ancora Advisors LLC increased its stake in shares of Forward Air by 8.5% in the third quarter. Ancora Advisors LLC now owns 1,475,055 shares of the transportation company’s stock valued at $37,820,000 after buying an additional 116,012 shares in the last quarter. Cibc World Market Inc. bought a new position in shares of Forward Air in the second quarter valued at about $14,485,000. State Street Corp raised its holdings in shares of Forward Air by 2.1% in the fourth quarter. State Street Corp now owns 949,784 shares of the transportation company’s stock valued at $23,745,000 after buying an additional 19,854 shares during the last quarter. Finally, Melqart Asset Management UK Ltd lifted its position in Forward Air by 122.3% during the 4th quarter. Melqart Asset Management UK Ltd now owns 849,876 shares of the transportation company’s stock worth $21,247,000 after buying an additional 467,482 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Forward Air Stock Up 0.1%

Shares of NASDAQ:FWRD opened at $17.00 on Tuesday. The company’s fifty day moving average is $15.58 and its 200-day moving average is $16.76. The company has a debt-to-equity ratio of 13.98, a quick ratio of 1.32 and a current ratio of 1.32. Forward Air has a 52 week low of $7.86 and a 52 week high of $31.30. The company has a market capitalization of $537.54 million, a PE ratio of -1.91 and a beta of 1.36.

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.