Forward Air (NASDAQ:FWRD) Posts Quarterly Earnings Results, Beats Estimates By $999.26 EPS

Forward Air (NASDAQ:FWRD) issued its earnings results on Monday. The transportation company reported $999.00 earnings per share for the quarter, topping the consensus estimate of ($0.26) by $999.26, Zacks reports. Forward Air had a negative return on equity of 33.13% and a negative net margin of 4.64%.

Forward Air Stock Performance

FWRD traded down $2.54 on Monday, hitting $25.28. 965,530 shares of the company traded hands, compared to its average volume of 559,258. Forward Air has a 12-month low of $9.78 and a 12-month high of $32.47. The company has a 50 day moving average of $27.15 and a 200-day moving average of $25.66. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 8.73. The stock has a market capitalization of $790 million, a PE ratio of -6.57 and a beta of 1.35.

Institutional Investors Weigh In On Forward Air

Several large investors have recently modified their holdings of FWRD. Ancora Advisors LLC grew its position in Forward Air by 8.5% in the 3rd quarter. Ancora Advisors LLC now owns 1,475,055 shares of the transportation company’s stock valued at $37,820,000 after buying an additional 116,012 shares during the last quarter. State Street Corp boosted its position in shares of Forward Air by 2.1% during the 4th quarter. State Street Corp now owns 949,784 shares of the transportation company’s stock worth $23,745,000 after purchasing an additional 19,854 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Forward Air by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 611,316 shares of the transportation company’s stock worth $15,002,000 after purchasing an additional 121,190 shares during the period. Geode Capital Management LLC increased its holdings in shares of Forward Air by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 531,614 shares of the transportation company’s stock valued at $13,293,000 after purchasing an additional 11,849 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Forward Air by 1,179.7% in the 1st quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company’s stock valued at $6,451,000 after purchasing an additional 296,001 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on FWRD. Susquehanna increased their price target on shares of Forward Air from $42.00 to $45.00 and gave the company a “positive” rating in a research note on Monday, January 5th. Stifel Nicolaus upped their target price on shares of Forward Air from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Jefferies Financial Group reiterated a “buy” rating on shares of Forward Air in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a research note on Thursday, January 22nd. Finally, Zacks Research cut Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $35.00.

Forward Air Company Profile

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.