Benchmark Reiterates “Hold” Rating for Forward Air (NASDAQ:FWRD)

Benchmark reaffirmed their hold rating on shares of Forward Air (NASDAQ:FWRD) in a research report report published on Tuesday morning,Benzinga reports.

FWRD has been the subject of a number of other reports. Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the stock a “buy” rating in a report on Friday, October 18th. StockNews.com raised shares of Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus lifted their price target on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.25.

Forward Air Stock Down 1.7 %

NASDAQ:FWRD opened at $32.00 on Tuesday. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. Forward Air has a 1-year low of $11.21 and a 1-year high of $64.33. The company has a 50-day moving average of $33.73 and a 200 day moving average of $31.16. The firm has a market cap of $926.53 million, a PE ratio of -1.34 and a beta of 1.04.

Institutional Trading of Forward Air

Large investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in shares of Forward Air in the second quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in Forward Air during the 3rd quarter valued at approximately $39,000. Nisa Investment Advisors LLC raised its holdings in shares of Forward Air by 62.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after purchasing an additional 763 shares during the last quarter. GAMMA Investing LLC lifted its position in Forward Air by 89.2% during the third quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock valued at $133,000 after purchasing an additional 1,776 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Forward Air by 33.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,218 shares of the transportation company’s stock worth $137,000 after purchasing an additional 1,803 shares during the period. Hedge funds and other 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.