Forward Air (NASDAQ:FWRD) Stock Price Up 5.4%

Forward Air Co. (NASDAQ:FWRD) shares rose 5.4% on Wednesday . The company traded as high as $34.19 and last traded at $33.97. Approximately 157,180 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 1,054,493 shares. The stock had previously closed at $32.24.

Wall Street Analyst Weigh In

FWRD has been the subject of a number of analyst reports. 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 upped their price target on shares of Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Benchmark reiterated a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.00.

Forward Air Stock Up 3.5 %

The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 4.70. The firm has a market capitalization of $924.35 million, a PE ratio of 9.93 and a beta of 1.00. The business’s 50-day moving average price is $25.29 and its 200-day moving average price is $24.76.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Wednesday, August 7th. The transportation company reported ($23.29) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($23.11). The company had revenue of $643.67 million during the quarter, compared to analyst estimates of $642.92 million. Forward Air had a negative net margin of 30.77% and a negative return on equity of 79.11%. The firm’s quarterly revenue was up 92.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 EPS. As a group, equities research analysts predict that Forward Air Co. will post -1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. UMB Bank n.a. grew its stake in shares of Forward Air by 413.5% in the 1st quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock valued at $26,000 after buying an additional 674 shares in the last quarter. TFO Wealth Partners LLC grew its position in Forward Air by 116,200.0% in the fourth 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. Point72 DIFC Ltd acquired a new position in shares of Forward Air during the 2nd quarter worth $26,000. 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, Gladius Capital Management LP raised its holdings in shares of Forward Air by 33.5% during the 2nd quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 493 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

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.