Forward Air (NASDAQ:FWRD) Stock Price Down 4.9% – What’s Next?

Forward Air Co. (NASDAQ:FWRD)’s share price fell 4.9% on Monday . The stock traded as low as $30.18 and last traded at $30.68. 397,372 shares were traded during mid-day trading, a decline of 19% from the average session volume of 493,242 shares. The stock had previously closed at $32.25.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the stock a “buy” rating in a report on Friday, October 18th. Stifel Nicolaus boosted their price target on Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. StockNews.com upgraded Forward Air to a “sell” rating in a report on Wednesday, November 6th. Finally, Benchmark restated a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $35.67.

Forward Air Price Performance

The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The company has a fifty day moving average price of $33.01 and a two-hundred day moving average price of $32.79. The company has a market cap of $892.67 million, a P/E ratio of -1.29 and a beta of 1.03.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FWRD. Byrne Asset Management LLC grew its stake in shares of Forward Air by 122.9% in the fourth 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. Northwest Investment Counselors LLC bought a new position in shares of Forward Air in the 3rd quarter valued at about $39,000. Nisa Investment Advisors LLC increased its stake in shares of 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 purchasing an additional 763 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 valued at $133,000 after purchasing an additional 1,776 shares during the period. Finally, Quantinno Capital Management LP acquired a new stake in Forward Air in the 3rd quarter valued at about $224,000. Institutional investors and hedge funds 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.