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

Shares of Forward Air Corporation (NASDAQ:FWRD) have received an average rating of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $22.50.

FWRD has been the topic of several research analyst reports. Zacks Research upgraded Forward Air from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Weiss Ratings raised Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Forward Air from a “sell” rating to a “hold” rating in a report on Saturday. Susquehanna reduced their price objective on shares of Forward Air from $42.00 to $18.00 and set a “positive” rating for the company in a research report on Friday, May 8th. Finally, Stifel Nicolaus lifted their price objective 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.

Hedge Funds Weigh In On Forward Air

Institutional investors and hedge funds have recently made changes to their positions in the stock. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Forward Air in the 4th quarter valued at about $36,000. Tower Research Capital LLC TRC grew its stake in Forward Air by 207.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 1,753 shares during the period. Kestra Advisory Services LLC acquired a new stake in Forward Air in the fourth quarter valued at approximately $74,000. Allied Private Wealth LLC bought a new stake in shares of Forward Air during the second quarter valued at approximately $57,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Forward Air during the second quarter valued at approximately $107,000. Institutional investors own 97.03% of the company’s stock.

Forward Air Stock Performance

Shares of Forward Air stock opened at $18.60 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 13.98. The business has a 50-day moving average price of $13.93 and a two-hundred day moving average price of $17.77. Forward Air has a 1-year low of $7.86 and a 1-year high of $32.00. The company has a market cap of $588.13 million, a P/E ratio of -2.09 and a beta of 1.36.

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.