Forward Air (NASDAQ:FWRD) Given New $36.00 Price Target at Stifel Nicolaus

Forward Air (NASDAQ:FWRD) had its target price boosted by Stifel Nicolaus from $34.00 to $36.00 in a report released on Thursday,Benzinga reports. The firm currently has a “hold” rating on the transportation company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 4.99% from the company’s previous close.

A number of other research firms have also recently commented on FWRD. Benchmark reiterated a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. StockNews.com raised Forward Air to a “sell” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group set a $47.00 price target on Forward Air and gave the company a “buy” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.67.

Forward Air Stock Performance

NASDAQ FWRD traded up $0.15 on Thursday, hitting $34.29. 100,203 shares of the stock were exchanged, compared to its average volume of 411,140. The business’s fifty day moving average is $33.23 and its 200 day moving average is $32.17. Forward Air has a 52 week low of $11.21 and a 52 week high of $50.53. The company has a market capitalization of $992.70 million, a PE ratio of -1.44 and a beta of 1.04. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

Institutional Investors Weigh In On Forward Air

A number of institutional investors have recently modified their holdings of FWRD. Northwest Investment Counselors LLC bought a new stake in shares of Forward Air during the 3rd quarter valued at $39,000. Point72 DIFC Ltd bought a new stake in Forward Air during the second quarter worth about $26,000. Nisa Investment Advisors LLC grew its stake in Forward Air by 62.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after buying an additional 763 shares in the last quarter. GAMMA Investing LLC increased its holdings in Forward Air by 89.2% in the 3rd quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock valued at $133,000 after buying an additional 1,776 shares during the period. Finally, Quantinno Capital Management LP acquired a new position in shares of Forward Air in the 3rd quarter valued at approximately $224,000. 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.