Forward Air Co. (NASDAQ:FWRD) Receives $80.14 Average PT from Analysts

Shares of Forward Air Co. (NASDAQ:FWRD) have been assigned an average recommendation of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $80.14.

FWRD has been the topic of a number of research analyst reports. Wolfe Research downgraded Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a report on Wednesday, January 10th. Stifel Nicolaus lowered their price target on shares of Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. Benchmark reiterated a “hold” rating on shares of Forward Air in a report on Wednesday, April 24th. StockNews.com downgraded Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, March 18th. Finally, Robert W. Baird cut their price target on Forward Air from $50.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, March 1st.

Forward Air Trading Up 2.9 %

Shares of FWRD opened at $21.51 on Friday. The business’s 50-day moving average price is $26.92 and its 200 day moving average price is $46.92. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $567.22 million, a P/E ratio of 3.35 and a beta of 1.06. Forward Air has a 1-year low of $20.50 and a 1-year high of $121.38.

Forward Air (NASDAQ:FWRD) last released its earnings results on Thursday, February 29th. The transportation company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.16). Forward Air had a return on equity of 15.30% and a net margin of 10.58%. The firm had revenue of $338.43 million during the quarter, compared to analysts’ expectations of $406.96 million. During the same period last year, the business earned $1.65 earnings per share. The business’s revenue was down 16.0% on a year-over-year basis. Analysts expect that Forward Air will post 0.56 earnings per share for the current year.

Institutional Investors Weigh In On Forward Air

A number of large investors have recently added to or reduced their stakes in FWRD. UMB Bank n.a. lifted its stake in shares of Forward Air by 413.5% in the first quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock worth $26,000 after buying an additional 674 shares during the last quarter. CWM LLC grew its position in shares of Forward Air by 86.9% in the third quarter. CWM LLC now owns 669 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 311 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of Forward Air by 98.5% in the first quarter. Headlands Technologies LLC now owns 1,634 shares of the transportation company’s stock worth $51,000 after purchasing an additional 811 shares during the period. Signaturefd LLC lifted its position in shares of Forward Air by 306.9% during the 3rd quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock worth $65,000 after purchasing an additional 715 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in Forward Air by 116,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock valued at $73,000 after purchasing an additional 1,162 shares during the period. Institutional investors own 97.03% of the company’s stock.

Forward Air Company Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.