Forward Air (NASDAQ:FWRD) Shares Down 5.8% – Time to Sell?

Forward Air Corporation (NASDAQ:FWRD) shares fell 5.8% during mid-day trading on Friday . The company traded as low as $19.13 and last traded at $19.0350. 169,365 shares changed hands during trading, a decline of 82% from the average daily volume of 960,185 shares. The stock had previously closed at $20.20.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FWRD shares. Susquehanna increased their target price on shares of Forward Air from $18.00 to $29.00 and gave the company a “positive” rating in a report on Thursday. Weiss Ratings raised shares of Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research upgraded Forward Air from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Finally, Stifel Nicolaus boosted their target price on Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Forward Air Stock Down 6.1%

The company has a market capitalization of $599.52 million, a PE ratio of -2.13 and a beta of 1.36. The stock’s fifty day moving average is $14.50 and its two-hundred day moving average is $17.67. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 13.98.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Forward Air by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock worth $299,000 after purchasing an additional 624 shares during the last quarter. AQR Capital Management LLC lifted its stake in Forward Air by 7.0% in the first quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock valued at $201,000 after purchasing an additional 654 shares during the last quarter. LPL Financial LLC lifted its stake in Forward Air by 1.5% in the fourth quarter. LPL Financial LLC now owns 43,228 shares of the transportation company’s stock valued at $1,081,000 after purchasing an additional 655 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Forward Air by 5.2% during the second quarter. Thrivent Financial for Lutherans now owns 15,436 shares of the transportation company’s stock valued at $379,000 after purchasing an additional 762 shares during the period. Finally, Logan Capital Management Inc. grew its holdings in Forward Air by 11.7% during the third quarter. Logan Capital Management Inc. now owns 7,575 shares of the transportation company’s stock valued at $194,000 after purchasing an additional 791 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

About Forward Air

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.