Forward Air (NASDAQ:FWRD) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday, August 1st.
Separately, Stifel Nicolaus lifted their price target on shares of Forward Air from $46.00 to $47.00 and gave the company a “hold” rating in a report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $61.40.
Shares of FWRD traded down $0.48 on Tuesday, reaching $53.23. The company’s stock had a trading volume of 110,462 shares, compared to its average volume of 191,390. The company has a current ratio of 2.71, a quick ratio of 2.68 and a debt-to-equity ratio of 0.08. The company has a market cap of $1,579.98, a price-to-earnings ratio of 22.56 and a beta of 1.25. Forward Air has a 12-month low of $46.50 and a 12-month high of $64.80.
In other Forward Air news, Director George M. Lynch sold 2,443 shares of Forward Air stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $55.47, for a total transaction of $135,513.21. Following the transaction, the director now owns 9,940 shares of the company’s stock, valued at $551,371.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by insiders.
Large investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of 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. US Bancorp DE raised its position in shares of Forward Air by 22.6% during the second quarter. US Bancorp DE now owns 2,411 shares of the transportation company’s stock valued at $129,000 after buying an additional 445 shares during the last quarter. Rhumbline Advisers raised its position in shares of Forward Air by 2.8% during the third quarter. Rhumbline Advisers now owns 69,070 shares of the transportation company’s stock valued at $3,953,000 after buying an additional 1,882 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Forward Air by 53.3% during the second quarter. BNP Paribas Arbitrage SA now owns 10,231 shares of the transportation company’s stock valued at $545,000 after buying an additional 3,557 shares during the last quarter. Finally, Confluence Investment Management LLC raised its position in shares of Forward Air by 3.0% during the fourth quarter. Confluence Investment Management LLC now owns 79,894 shares of the transportation company’s stock valued at $4,589,000 after buying an additional 2,352 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.
About Forward Air
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-than-truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).
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