Forward Air Co. (NASDAQ:FWRD – Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $39.15 and last traded at $39.26, with a volume of 37024 shares. The stock had previously closed at $39.27.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on FWRD shares. Susquehanna dropped their price target on shares of Forward Air from $84.00 to $75.00 and set a “positive” rating for the company in a research report on Wednesday, November 1st. Stifel Nicolaus dropped their price target on shares of Forward Air from $80.00 to $55.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Finally, Wolfe Research downgraded shares of Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a research report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Forward Air presently has a consensus rating of “Hold” and an average target price of $85.86.
Forward Air Price Performance
The business’s 50 day moving average is $54.16 and its 200-day moving average is $64.76. The firm has a market capitalization of $1.03 billion, a P/E ratio of 9.60 and a beta of 1.06. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.21.
Institutional Trading of Forward Air
A number of hedge funds and other institutional investors have recently modified their holdings of FWRD. Assenagon Asset Management S.A. grew its stake in shares of Forward Air by 15,487.6% during the third quarter. Assenagon Asset Management S.A. now owns 726,538 shares of the transportation company’s stock worth $49,942,000 after buying an additional 721,877 shares during the last quarter. Norges Bank bought a new stake in shares of Forward Air during the fourth quarter worth $43,281,000. UBS Group AG grew its stake in shares of Forward Air by 809.8% during the third quarter. UBS Group AG now owns 683,566 shares of the transportation company’s stock worth $46,988,000 after buying an additional 608,430 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Forward Air by 38.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,580,644 shares of the transportation company’s stock worth $167,722,000 after buying an additional 438,069 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Forward Air by 54.7% in the third quarter. Morgan Stanley now owns 1,213,405 shares of the transportation company’s stock worth $83,410,000 after purchasing an additional 428,912 shares during the last quarter. 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 final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.