Forward Air Co. (FWRD) Receives Consensus Recommendation of “Hold” from Analysts

Forward Air Co. (NASDAQ:FWRD) has received an average rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $55.33.

Several research analysts have issued reports on FWRD shares. BidaskClub lowered Forward Air from a “hold” rating to a “sell” rating in a research note on Saturday. Cowen reiterated a “market perform” rating and set a $54.00 price objective (up from $51.00) on shares of Forward Air in a research note on Monday, October 30th. Zacks Investment Research lowered Forward Air from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Stifel Nicolaus increased their price objective on Forward Air from $47.00 to $52.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Finally, KeyCorp reiterated a “hold” rating on shares of Forward Air in a research note on Friday, September 22nd.

Shares of Forward Air (FWRD) traded up $2.08 during midday trading on Tuesday, hitting $60.20. The company had a trading volume of 555,700 shares, compared to its average volume of 192,300. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1,730.36, a price-to-earnings ratio of 28.26 and a beta of 1.18. Forward Air has a twelve month low of $45.86 and a twelve month high of $60.61.

Forward Air (NASDAQ:FWRD) last issued its earnings results on Wednesday, October 25th. The transportation company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. The business had revenue of $280.20 million during the quarter, compared to analyst estimates of $278.75 million. Forward Air had a return on equity of 13.76% and a net margin of 6.10%. Forward Air’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. equities analysts anticipate that Forward Air will post 2.33 EPS for the current year.

In other news, insider Chris C. Ruble sold 23,020 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $57.75, for a total transaction of $1,329,405.00. Following the sale, the insider now owns 28,279 shares in the company, valued at $1,633,112.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George M. Lynch sold 1,640 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $57.00, for a total value of $93,480.00. Following the sale, the director now owns 12,383 shares in the company, valued at approximately $705,831. The disclosure for this sale can be found here. Insiders have sold 93,549 shares of company stock valued at $5,250,836 over the last quarter. Corporate insiders own 2.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in FWRD. Cambiar Investors LLC bought a new stake in shares of Forward Air during the third quarter worth $8,421,000. Victory Capital Management Inc. boosted its holdings in Forward Air by 12.5% in the third quarter. Victory Capital Management Inc. now owns 1,255,469 shares of the transportation company’s stock valued at $71,850,000 after acquiring an additional 139,363 shares during the last quarter. AHL Partners LLP boosted its holdings in Forward Air by 358.3% in the second quarter. AHL Partners LLP now owns 95,269 shares of the transportation company’s stock valued at $5,076,000 after acquiring an additional 74,480 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Forward Air by 93.2% in the second quarter. Alliancebernstein L.P. now owns 86,110 shares of the transportation company’s stock valued at $4,588,000 after acquiring an additional 41,540 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Forward Air by 16.1% in the third quarter. Russell Investments Group Ltd. now owns 201,353 shares of the transportation company’s stock valued at $11,524,000 after acquiring an additional 27,969 shares during the last quarter. Institutional investors own 95.70% of the company’s stock.

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Forward Air Company Profile

Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.

Analyst Recommendations for Forward Air (NASDAQ:FWRD)

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