Forward Air Corporation (NASDAQ:FWRD) Given Consensus Recommendation of “Hold” by Brokerages

Forward Air Corporation (NASDAQ:FWRD) has earned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $22.50.

FWRD has been the topic of several analyst reports. Zacks Research upgraded Forward Air from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Forward Air in a research note on Friday, July 17th. Stifel Nicolaus upped their price target on Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Susquehanna reduced their price target on Forward Air from $42.00 to $18.00 and set a “positive” rating on the stock in a research report on Friday, May 8th.

Forward Air Price Performance

Shares of FWRD opened at $17.80 on Friday. The company has a market cap of $562.84 million, a P/E ratio of -2.00 and a beta of 1.36. Forward Air has a fifty-two week low of $7.86 and a fifty-two week high of $32.00. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 13.98. The firm’s 50 day moving average price is $13.42 and its 200 day moving average price is $17.97.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings results 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 business 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 11.37% and a negative return on equity of 10.88%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business earned ($1.68) EPS. On average, research analysts forecast that Forward Air will post -1.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Forward Air

Large investors have recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Forward Air by 1,179.7% during the first quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company’s stock worth $6,451,000 after purchasing an additional 296,001 shares in the last quarter. AQR Capital Management LLC raised its stake in Forward Air by 7.0% in the first quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock valued at $201,000 after buying an additional 654 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Forward Air by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock valued at $299,000 after buying an additional 624 shares in the last quarter. Intech Investment Management LLC raised its stake in Forward Air by 64.2% in the first quarter. Intech Investment Management LLC now owns 73,040 shares of the transportation company’s stock valued at $1,467,000 after buying an additional 28,564 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Forward Air by 6.6% during the 2nd quarter. Prudential Financial Inc. now owns 21,431 shares of the transportation company’s stock worth $526,000 after buying an additional 1,323 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

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.