Forward Air Corporation (NASDAQ:FWRD – Get Free Report) has earned a consensus rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $34.00.
Several research firms have recently weighed in on FWRD. Stifel Nicolaus upgraded shares of Forward Air from a “hold” rating to a “buy” rating and raised their price objective for the company from $21.00 to $29.00 in a research report on Thursday, June 26th. Susquehanna reduced their price objective on shares of Forward Air from $35.00 to $32.00 and set a “positive” rating for the company in a research report on Monday, March 31st. Finally, Wall Street Zen upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, June 21st.
Get Our Latest Research Report on FWRD
Forward Air Stock Up 1.2%
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in FWRD. Sterling Capital Management LLC lifted its position in shares of Forward Air by 812.5% in the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company’s stock worth $26,000 after purchasing an additional 715 shares in the last quarter. Byrne Asset Management LLC lifted its position in shares of Forward Air by 81.3% in the first quarter. Byrne Asset Management LLC now owns 1,940 shares of the transportation company’s stock worth $39,000 after purchasing an additional 870 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Forward Air in the fourth quarter worth approximately $72,000. AlphaQuest LLC lifted its position in shares of Forward Air by 155.9% in the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock worth $94,000 after purchasing an additional 1,782 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Forward Air in the fourth quarter worth approximately $138,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.
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.
Recommended Stories
- Five stocks we like better than Forward Air
- What to Know About Investing in Penny Stocks
- CoreWeave’s $9 Billion Power Play for Core Scientific
- Basic Materials Stocks Investing
- Micron Insiders Sell But Investors Should Buy, Buy, Buy
- How Can Retail Investors Trade the Toronto Stock Exchange (TSX)?
- ExxonMobil: Limited Risk and Lots of Reward With This Oil Play
Receive News & Ratings for Forward Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air and related companies with MarketBeat.com's FREE daily email newsletter.