Forward Air Corporation (FWRD) Given Market Perform Rating at Cowen and Company

Cowen and Company reissued their market perform rating on shares of Forward Air Corporation (NASDAQ:FWRD) in a research report report published on Monday, MarketBeat Ratings reports. Cowen and Company currently has a $54.00 target price on the transportation company’s stock, up from their prior target price of $51.00.

Other research analysts also recently issued reports about the company. Stifel Nicolaus increased their price objective on Forward Air Corporation from $47.00 to $52.00 and gave the company a hold rating in a research note on Thursday, October 26th. Robert W. Baird reissued a hold rating and issued a $60.00 price objective on shares of Forward Air Corporation in a research note on Friday, October 6th. KeyCorp reissued a hold rating on shares of Forward Air Corporation in a research note on Friday, September 22nd. Zacks Investment Research downgraded Forward Air Corporation from a buy rating to a hold rating in a research note on Tuesday, August 1st. Finally, Wolfe Research downgraded Forward Air Corporation from an outperform rating to a market perform rating in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Forward Air Corporation has an average rating of Hold and a consensus target price of $55.33.

Forward Air Corporation (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.58 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. Forward Air Corporation had a return on equity of 13.76% and a net margin of 6.10%. The firm had revenue of $280.20 million during the quarter, compared to the consensus estimate of $278.75 million. During the same period in the prior year, the company earned $0.51 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 23rd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Tuesday, November 21st. Forward Air Corporation’s dividend payout ratio (DPR) is presently 28.17%.

In other Forward Air Corporation news, insider Michael P. Mclean sold 4,984 shares of the firm’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $54.82, for a total value of $273,222.88. Following the completion of the sale, the insider now directly owns 13,401 shares of the company’s stock, valued at approximately $734,642.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Pinebridge Investments L.P. increased its stake in shares of Forward Air Corporation by 0.9% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,980 shares of the transportation company’s stock worth $212,000 after acquiring an additional 36 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Forward Air Corporation by 1.6% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 6,970 shares of the transportation company’s stock worth $332,000 after acquiring an additional 110 shares during the last quarter. Huntington National Bank increased its stake in shares of Forward Air Corporation by 8.1% in the 2nd quarter. Huntington National Bank now owns 2,204 shares of the transportation company’s stock worth $117,000 after acquiring an additional 165 shares during the last quarter. Texas Permanent School Fund increased its stake in shares of Forward Air Corporation by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 22,060 shares of the transportation company’s stock worth $1,175,000 after acquiring an additional 173 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Forward Air Corporation by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 56,848 shares of the transportation company’s stock worth $3,029,000 after acquiring an additional 175 shares during the last quarter. 96.20% of the stock is owned by institutional investors and hedge funds.

About Forward Air Corporation

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 Corporation (NASDAQ:FWRD)

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