Forward Air (NASDAQ:FWRD) Given New $28.00 Price Target at Robert W. Baird

Forward Air (NASDAQ:FWRD) had its price target trimmed by Robert W. Baird from $32.00 to $28.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

Several other equities research analysts have also recently weighed in on the company. StockNews.com raised Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Stifel Nicolaus boosted their price target on Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.00.

Forward Air Trading Down 10.7 %

Forward Air stock opened at $23.00 on Thursday. The business’s 50-day simple moving average is $31.46 and its 200-day simple moving average is $33.38. Forward Air has a 52 week low of $11.21 and a 52 week high of $40.92. The firm has a market capitalization of $665.94 million, a PE ratio of -0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21.

Hedge Funds Weigh In On Forward Air

Several institutional investors have recently bought and sold shares of FWRD. Creative Planning raised its holdings in shares of Forward Air by 6.0% in the third quarter. Creative Planning now owns 19,885 shares of the transportation company’s stock valued at $704,000 after buying an additional 1,129 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Forward Air by 62.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock valued at $70,000 after buying an additional 763 shares during the last quarter. Sugar Maple Asset Management LLC increased its stake in shares of Forward Air by 14.3% in the 3rd quarter. Sugar Maple Asset Management LLC now owns 16,800 shares of the transportation company’s stock valued at $595,000 after buying an additional 2,100 shares during the period. LMR Partners LLP bought a new stake in shares of Forward Air during the third quarter worth $232,000. Finally, Carlyle Group Inc. bought a new position in Forward Air in the third quarter valued at about $4,118,000. Institutional investors own 97.03% of the company’s stock.

About Forward Air

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.