Robert W. Baird Issues Pessimistic Forecast for Forward Air (NASDAQ:FWRD) Stock Price

Forward Air (NASDAQ:FWRD) had its target price cut by stock analysts at Robert W. Baird from $32.00 to $28.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 24.61% from the stock’s previous close.

A number of other research analysts also recently commented on FWRD. StockNews.com upgraded Forward Air to a “sell” rating in a research note on Wednesday, November 6th. Stifel Nicolaus upped their price target on shares of Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Finally, Benchmark reaffirmed a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $37.00.

Forward Air Stock Down 2.3 %

NASDAQ:FWRD opened at $22.47 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The stock has a 50 day moving average of $31.46 and a 200-day moving average of $33.38. The firm has a market capitalization of $650.60 million, a PE ratio of -0.94 and a beta of 1.03. Forward Air has a 52 week low of $11.21 and a 52 week high of $40.92.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its holdings in shares of Forward Air by 812.5% during the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 715 shares during the period. Byrne Asset Management LLC grew its position in Forward Air by 122.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 590 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Forward Air by 62.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock valued at $70,000 after buying an additional 763 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Forward Air during the 4th quarter valued at about $72,000. Finally, AlphaQuest LLC raised its position in shares of Forward Air by 155.9% during the 4th quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock worth $94,000 after buying an additional 1,782 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

About Forward Air

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.