Forward Air Corporation (NASDAQ:FWRD) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Forward Air Corporation (NASDAQ:FWRD) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.50.

A number of research analysts have recently weighed in on the stock. Susquehanna reduced their target price on shares of Forward Air from $42.00 to $18.00 and set a “positive” rating for the company in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Forward Air in a research report on Tuesday, April 21st. Finally, Stifel Nicolaus set a $17.00 target price on shares of Forward Air in a research report on Friday, May 8th.

Forward Air Trading Down 0.2%

NASDAQ:FWRD opened at $10.36 on Friday. The company has a debt-to-equity ratio of 13.98, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market cap of $327.58 million, a price-to-earnings ratio of -3.54 and a beta of 1.59. Forward Air has a 52 week low of $7.86 and a 52 week high of $32.47. The firm has a 50-day moving average price of $15.98 and a two-hundred day moving average price of $21.89.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Thursday, May 7th. The transportation company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.74). The firm had revenue of $582.05 million during the quarter, compared to analysts’ expectations of $620.23 million. Forward Air had a negative net margin of 3.71% and a negative return on equity of 41.21%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted ($1.68) EPS. On average, equities analysts expect that Forward Air will post -1.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FWRD. Garton & Associates Financial Advisors LLC bought a new position in shares of Forward Air during the 4th quarter valued at approximately $36,000. Tower Research Capital LLC TRC grew its position in shares of Forward Air by 207.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 1,753 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Forward Air during the 4th quarter valued at approximately $74,000. AlphaQuest LLC grew its position in shares of Forward Air by 541.5% during the 3rd quarter. AlphaQuest LLC now owns 3,015 shares of the transportation company’s stock valued at $77,000 after acquiring an additional 2,545 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of Forward Air by 2,397.7% during the 1st quarter. Fifth Third Bancorp now owns 5,495 shares of the transportation company’s stock valued at $92,000 after acquiring an additional 5,275 shares during the period. 97.03% of the stock is owned by institutional investors.

About Forward Air

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.