Forward Air (NASDAQ:FWRD) Stock Rating Reaffirmed by Benchmark

Benchmark reiterated their hold rating on shares of Forward Air (NASDAQ:FWRD) in a report released on Monday, Benzinga reports.

FWRD has been the topic of a number of other reports. Robert W. Baird lifted their price target on Forward Air from $17.00 to $24.00 and gave the company a neutral rating in a research note on Thursday, August 8th. Wolfe Research raised Forward Air from an underperform rating to a peer perform rating in a research note on Tuesday, May 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $57.80.

Forward Air Stock Performance

NASDAQ:FWRD opened at $28.17 on Monday. The stock’s 50-day simple moving average is $22.41 and its 200 day simple moving average is $26.02. The firm has a market capitalization of $744.76 million, a PE ratio of 8.04 and a beta of 1.00. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.27. Forward Air has a twelve month low of $11.21 and a twelve month high of $79.51.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Wednesday, August 7th. The transportation company reported ($23.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($23.11). Forward Air had a net margin of 4.08% and a return on equity of 5.37%. The firm had revenue of $643.67 million for the quarter, compared to analyst estimates of $642.92 million. During the same period in the previous year, the business posted $0.91 earnings per share. The business’s revenue for the quarter was up 92.9% compared to the same quarter last year. On average, analysts anticipate that Forward Air will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Forward Air

A number of hedge funds have recently made changes to their positions in FWRD. Louisiana State Employees Retirement System bought a new position in shares of Forward Air during the fourth quarter worth about $805,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Forward Air by 24.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,415 shares of the transportation company’s stock worth $340,000 after acquiring an additional 1,072 shares during the last quarter. Duality Advisers LP raised its position in shares of Forward Air by 28.4% during the fourth quarter. Duality Advisers LP now owns 39,047 shares of the transportation company’s stock worth $2,455,000 after acquiring an additional 8,635 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Forward Air by 1.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 15,070 shares of the transportation company’s stock worth $947,000 after purchasing an additional 236 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in Forward Air by 27.1% in the fourth quarter. New York State Common Retirement Fund now owns 122,011 shares of the transportation company’s stock worth $7,671,000 after purchasing an additional 26,016 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

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.