Forward Air (NASDAQ:FWRD) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Forward Air (NASDAQ:FWRD) from a sell rating to a hold rating in a research report report published on Saturday morning.

A number of other research firms have also recently issued reports on FWRD. Susquehanna lowered their target price on Forward Air from $35.00 to $32.00 and set a “positive” rating for the company in a report on Monday, March 31st. Robert W. Baird reduced their price objective on Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, Stifel Nicolaus decreased their price objective on Forward Air from $29.00 to $22.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Forward Air currently has a consensus rating of “Hold” and an average price target of $32.25.

Forward Air Stock Up 0.2%

Forward Air stock opened at $22.18 on Friday. The company has a 50 day moving average of $17.65 and a 200-day moving average of $23.78. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 7.55. Forward Air has a twelve month low of $9.79 and a twelve month high of $40.92. The stock has a market capitalization of $674.72 million, a PE ratio of -0.76 and a beta of 1.29.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FWRD. GAMMA Investing LLC lifted its position in Forward Air by 1,194.0% during the 1st quarter. GAMMA Investing LLC now owns 46,508 shares of the transportation company’s stock worth $934,000 after buying an additional 42,914 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Forward Air in the fourth quarter valued at about $815,000. Principal Financial Group Inc. raised its holdings in Forward Air by 7.3% during the fourth quarter. Principal Financial Group Inc. now owns 97,148 shares of the transportation company’s stock worth $3,133,000 after acquiring an additional 6,629 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Forward Air by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company’s stock worth $24,376,000 after acquiring an additional 79,960 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Forward Air during the fourth quarter valued at approximately $320,000. Institutional investors own 97.03% of the company’s stock.

Forward Air Company Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.