Wall Street Zen Upgrades Forward Air (NASDAQ:FWRD) to “Hold”

Forward Air (NASDAQ:FWRD) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other equities research analysts have also recently weighed in on FWRD. Susquehanna dropped 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 lowered their price target 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 lowered their price target on Forward Air from $29.00 to $22.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.25.

Forward Air Trading Up 0.2%

Shares of FWRD stock opened at $22.18 on Friday. The stock has a market capitalization of $674.72 million, a PE ratio of -0.76 and a beta of 1.29. Forward Air has a 1-year low of $9.79 and a 1-year high of $40.92. The business has a 50-day moving average of $17.65 and a 200 day moving average of $23.71. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.13 and a quick ratio of 1.13.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC raised its position in shares of Forward Air by 812.5% in the 4th quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company’s stock worth $26,000 after acquiring an additional 715 shares in the last quarter. Byrne Asset Management LLC raised its position in shares of Forward Air by 81.3% in the 1st quarter. Byrne Asset Management LLC now owns 1,940 shares of the transportation company’s stock worth $39,000 after acquiring an additional 870 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Forward Air in the 4th quarter worth approximately $72,000. AlphaQuest LLC raised its position in shares of Forward Air by 155.9% in the 4th quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock worth $94,000 after acquiring an additional 1,782 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Forward Air in the 4th quarter worth approximately $138,000. 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.