Forward Air (NASDAQ:FWRD) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Forward Air (NASDAQ:FWRD) had its target price hoisted by analysts at Stifel Nicolaus from $34.00 to $36.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the transportation company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 4.99% from the stock’s previous close.

A number of other analysts have also weighed in on FWRD. Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the company a “buy” rating in a research report on Friday, October 18th. StockNews.com raised Forward Air to a “sell” rating in a report on Wednesday, November 6th. 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, Forward Air presently has a consensus rating of “Hold” and a consensus target price of $35.67.

Forward Air Price Performance

NASDAQ FWRD traded up $0.15 during trading on Thursday, hitting $34.29. 100,203 shares of the company’s stock were exchanged, compared to its average volume of 411,140. The company has a market cap of $992.70 million, a PE ratio of -1.44 and a beta of 1.04. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air has a fifty-two week low of $11.21 and a fifty-two week high of $50.53. The stock’s 50 day moving average price is $33.23 and its two-hundred day moving average price is $32.17.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new position in shares of Forward Air in the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new stake in Forward Air during the third quarter valued at $39,000. Nisa Investment Advisors LLC grew its holdings 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 worth $70,000 after acquiring an additional 763 shares during the period. GAMMA Investing LLC raised its position in shares of Forward Air by 89.2% in the 3rd quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock worth $133,000 after acquiring an additional 1,776 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Forward Air in the 2nd quarter valued at about $181,000. 97.03% of the stock is owned by institutional investors.

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.