Forward Air (FWRD) Stock Rating Reaffirmed by Stephens
Forward Air (NASDAQ:FWRD)‘s stock had its “buy” rating restated by equities research analysts at Stephens in a note issued to investors on Wednesday. They currently have a $80.00 target price on the transportation company’s stock. Stephens’ target price would suggest a potential upside of 34.54% from the company’s current price.
Several other equities research analysts have also recently weighed in on FWRD. Zacks Investment Research raised Forward Air from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Tuesday. Robert W. Baird reissued a “hold” rating and issued a $60.00 target price on shares of Forward Air in a report on Friday, October 6th. BidaskClub raised Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. KeyCorp reissued a “hold” rating on shares of Forward Air in a report on Friday, September 22nd. Finally, Stifel Nicolaus boosted their target price on Forward Air from $47.00 to $52.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $62.60.
Forward Air (NASDAQ FWRD) opened at $59.46 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.71. Forward Air has a 12 month low of $45.86 and a 12 month high of $60.68. The stock has a market capitalization of $1,730.36, a P/E ratio of 27.92 and a beta of 1.18.
In other Forward Air news, Director George M. Lynch sold 1,640 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $57.00, for a total value of $93,480.00. Following the completion of the sale, the director now owns 12,383 shares in the company, valued at $705,831. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Chris C. Ruble sold 23,020 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $57.75, for a total value of $1,329,405.00. Following the sale, the insider now owns 28,279 shares of the company’s stock, valued at approximately $1,633,112.25. The disclosure for this sale can be found here. In the last three months, insiders sold 93,549 shares of company stock worth $5,250,836. 2.40% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Forward Air by 157,904.2% during the first quarter. BlackRock Inc. now owns 3,803,161 shares of the transportation company’s stock valued at $180,917,000 after buying an additional 3,800,754 shares during the last quarter. Vanguard Group Inc. boosted its stake in Forward Air by 0.6% during the second quarter. Vanguard Group Inc. now owns 2,694,979 shares of the transportation company’s stock valued at $143,589,000 after buying an additional 16,137 shares during the last quarter. BlackRock Fund Advisors lifted its stake in shares of Forward Air by 6.6% in the 3rd quarter. BlackRock Fund Advisors now owns 2,053,488 shares of the transportation company’s stock valued at $88,834,000 after purchasing an additional 127,066 shares during the last quarter. Arrowpoint Asset Management LLC lifted its stake in shares of Forward Air by 16.4% in the 4th quarter. Arrowpoint Asset Management LLC now owns 1,937,340 shares of the transportation company’s stock valued at $91,791,000 after purchasing an additional 272,881 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Forward Air by 12.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,255,469 shares of the transportation company’s stock valued at $71,850,000 after purchasing an additional 139,363 shares during the last quarter. Hedge funds and other institutional investors own 95.70% of the company’s stock.
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About Forward Air
Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.
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