Forward Air Co. (NASDAQ:FWRD)’s stock price hit a new 52-week high on Friday . The stock traded as high as $73.36 and last traded at $69.00, with a volume of 1217 shares trading hands. The stock had previously closed at $65.38.
FWRD has been the topic of several recent analyst reports. BidaskClub upgraded Forward Air from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research upgraded Forward Air from a “sell” rating to a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $70.00.
The company has a market capitalization of $1.86 billion, a P/E ratio of 20.96 and a beta of 1.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a 50 day moving average price of $63.08 and a 200 day moving average price of $61.47.
In other news, insider Glenn A. Adelaar sold 4,917 shares of Forward Air stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $61.05, for a total transaction of $300,182.85. Following the sale, the insider now directly owns 41,177 shares in the company, valued at approximately $2,513,855.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.04% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in Forward Air in the 2nd quarter worth about $30,000. Pathstone Family Office LLC purchased a new stake in Forward Air in the 2nd quarter worth about $31,000. Advisory Services Network LLC increased its holdings in Forward Air by 70.8% in the 2nd quarter. Advisory Services Network LLC now owns 683 shares of the transportation company’s stock worth $41,000 after acquiring an additional 283 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Forward Air in the 2nd quarter worth about $47,000. Finally, Tower Research Capital LLC TRC increased its holdings in Forward Air by 3,740.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,229 shares of the transportation company’s stock worth $73,000 after acquiring an additional 1,197 shares during the last quarter. Institutional investors own 95.06% of the company’s stock.
Forward Air Company Profile (NASDAQ:FWRD)
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-Than-Truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).
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