Zacks Research cut shares of Forward Air (NASDAQ:FWRD – Free Report) from a strong-buy rating to a hold rating in a research note published on Thursday morning,Zacks reports.
A number of other brokerages have also weighed in on FWRD. Stifel Nicolaus upped their target price on shares of Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings lowered Forward Air from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. Finally, Susquehanna boosted their target price on Forward Air from $18.00 to $29.00 and gave the stock a “positive” rating in a research report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.00.
Check Out Our Latest Report on FWRD
Forward Air Stock Up 9.7%
Institutional Trading of Forward Air
Several hedge funds have recently made changes to their positions in the business. Garton & Associates Financial Advisors LLC purchased a new position in Forward Air in the fourth quarter worth about $36,000. Allied Private Wealth LLC purchased a new stake in Forward Air during the second quarter valued at approximately $57,000. Tower Research Capital LLC TRC raised its position in Forward Air by 207.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 1,753 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Forward Air in the 4th quarter valued at approximately $74,000. Finally, Fifth Third Bancorp lifted its stake in shares of Forward Air by 2,397.7% in the 1st quarter. Fifth Third Bancorp now owns 5,495 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 5,275 shares during the last quarter. 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.
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