Forward Air (NASDAQ:FWRD) Stock Price Down 9.1%

Forward Air Co. (NASDAQ:FWRD) shares were down 9.1% during trading on Thursday . The company traded as low as $22.94 and last traded at $23.05. Approximately 185,349 shares traded hands during trading, a decline of 83% from the average daily volume of 1,081,498 shares. The stock had previously closed at $25.36.

Analyst Ratings Changes

Several brokerages recently weighed in on FWRD. Wolfe Research raised shares of Forward Air from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, May 28th. Robert W. Baird boosted their price objective on shares of Forward Air from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Finally, Benchmark restated a “hold” rating on shares of Forward Air in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $76.86.

Forward Air Trading Down 5.4 %

The firm has a market cap of $634.03 million, a P/E ratio of 6.96 and a beta of 1.00. The firm has a fifty day moving average of $20.56 and a 200-day moving average of $27.91. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.28 and a current ratio of 1.28.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings data on Wednesday, May 8th. The transportation company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.49). Forward Air had a net margin of 4.08% and a return on equity of 5.37%. The firm had revenue of $541.81 million during the quarter, compared to the consensus estimate of $644.00 million. During the same quarter in the prior year, the business earned $1.37 earnings per share. Equities research analysts forecast that Forward Air Co. will post -0.46 earnings per share for the current year.

Institutional Trading of Forward Air

Several hedge funds have recently added to or reduced their stakes in FWRD. UMB Bank n.a. raised its holdings in Forward Air by 413.5% during the first quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock worth $26,000 after purchasing an additional 674 shares in the last quarter. Gladius Capital Management LP lifted its position in Forward Air by 33.5% in the 2nd quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock worth $37,000 after buying an additional 493 shares in the last quarter. GAMMA Investing LLC increased its position in Forward Air by 2,329.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock worth $38,000 after purchasing an additional 1,910 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of Forward Air by 98.5% during the 1st quarter. Headlands Technologies LLC now owns 1,634 shares of the transportation company’s stock worth $51,000 after purchasing an additional 811 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in shares of Forward Air by 116,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock worth $73,000 after acquiring an additional 1,162 shares in the last quarter. Institutional investors 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.