Forward Air (NASDAQ:FWRD) Stock Price Down 4.7% – Time to Sell?

Shares of Forward Air Corporation (NASDAQ:FWRD) were down 4.7% during trading on Wednesday. The stock traded as low as $17.58 and last traded at $17.4750. Approximately 230,317 shares traded hands during trading, a decline of 72% from the average session volume of 819,258 shares. The stock had previously closed at $18.33.

Analysts Set New Price Targets

FWRD has been the topic of a number of recent analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $28.00 price target (up from $27.00) on shares of Forward Air in a report on Tuesday. Susquehanna reduced their price objective on shares of Forward Air from $29.00 to $25.00 and set a “positive” rating for the company in a research note on Friday, October 2nd. Weiss Ratings raised shares of Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 8th. Zacks Research raised shares of Forward Air from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 29th. Finally, Wall Street Zen upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Forward Air Stock Up 0.4%

The company has a 50-day moving average of $16.13 and a 200-day moving average of $17.28. The company has a market capitalization of $581.68 million, a price-to-earnings ratio of -2.15 and a beta of 1.31. The company has a current ratio of 1.41, a quick ratio of 1.32 and a debt-to-equity ratio of 13.98.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Monday, November 9th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.21. The firm had revenue of $673.86 million for the quarter, compared to the consensus estimate of $673.40 million. Forward Air had a negative net margin of 10.10% and a positive return on equity of 78.18%. On average, equities analysts predict that Forward Air Corporation will post -2.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Forward Air

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Forward Air in the 2nd quarter valued at $28,000. Allied Private Wealth LLC acquired a new stake in shares of Forward Air during the second quarter worth about $57,000. Fifth Third Bancorp lifted its holdings in shares of Forward Air by 2,397.7% during the first quarter. Fifth Third Bancorp now owns 5,495 shares of the transportation company’s stock worth $92,000 after purchasing an additional 5,275 shares during the period. State of Wyoming purchased a new stake in Forward Air in the second quarter valued at approximately $102,000. Finally, Corient Private Wealth LP purchased a new stake in Forward Air in the second quarter valued at approximately $146,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Forward Air Company Profile

Forward Air Corporation is a transportation and logistics company that specializes in expedited freight and time-sensitive shipments. Its services include less-than-truckload transportation, truckload services, intermodal drayage, freight forwarding and other logistics solutions. The company’s ground transportation network connects major North American markets and includes services supporting air cargo shipments. Following its acquisition of Omni Logistics, Forward Air also offers international freight forwarding, customs brokerage and related supply-chain services.