Susquehanna Lowers Forward Air (NASDAQ:FWRD) Price Target to $32.00

Forward Air (NASDAQ:FWRD) had its price target cut by Susquehanna from $35.00 to $32.00 in a report published on Monday morning,Benzinga reports. They currently have a positive rating on the transportation company’s stock.

Several other equities analysts also recently weighed in on the company. Benchmark reiterated a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. Stifel Nicolaus upped their target price on Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird lowered their price objective on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.75.

Forward Air Stock Performance

NASDAQ:FWRD opened at $20.74 on Monday. Forward Air has a 1-year low of $11.21 and a 1-year high of $40.92. The firm has a 50 day simple moving average of $25.88 and a 200-day simple moving average of $31.60. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $630.56 million, a PE ratio of -0.87 and a beta of 1.08.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in shares of Forward Air during the third quarter worth $437,000. Charles Schwab Investment Management Inc. raised its stake in Forward Air by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 675,883 shares of the transportation company’s stock valued at $23,926,000 after acquiring an additional 28,669 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Forward Air during the 3rd quarter worth $298,000. Quantbot Technologies LP bought a new position in shares of Forward Air in the third quarter worth $813,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Forward Air by 2,430.4% during the third quarter. BNP Paribas Financial Markets now owns 132,846 shares of the transportation company’s stock valued at $4,703,000 after purchasing an additional 127,596 shares during the period. 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.