Forward Air Corporation (NASDAQ:FWRD) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Forward Air Corporation (NASDAQ:FWRD) have been given a consensus rating of “Hold” by the five research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $17.50.

A number of research firms have commented on FWRD. Stifel Nicolaus set a $17.00 target price on Forward Air in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Forward Air in a report on Tuesday, April 21st. Finally, Susquehanna reduced their target price on Forward Air from $42.00 to $18.00 and set a “positive” rating on the stock in a report on Friday, May 8th.

Forward Air Stock Performance

Shares of NASDAQ:FWRD opened at $13.56 on Thursday. The firm has a market capitalization of $428.77 million, a PE ratio of -4.63 and a beta of 1.41. The company has a debt-to-equity ratio of 13.98, a current ratio of 1.23 and a quick ratio of 1.23. The business has a 50-day moving average of $14.64 and a two-hundred day moving average of $20.94. Forward Air has a 12 month low of $7.86 and a 12 month high of $32.47.

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 analysts’ consensus estimates 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 3.71% and a negative return on equity of 41.21%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted ($1.68) EPS. As a group, research analysts forecast that Forward Air will post -1.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Cornerstone Wealth LLC TN bought a new stake in shares of Forward Air in the 1st quarter worth approximately $319,000. ADAR1 Capital Management LLC lifted its holdings in shares of Forward Air by 193.8% in the 1st quarter. ADAR1 Capital Management LLC now owns 78,241 shares of the transportation company’s stock worth $1,307,000 after purchasing an additional 51,606 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Forward Air by 25.0% in the 1st quarter. Quantinno Capital Management LP now owns 20,758 shares of the transportation company’s stock worth $347,000 after purchasing an additional 4,155 shares during the last quarter. Entropy Technologies LP lifted its holdings in shares of Forward Air by 109.5% in the 1st quarter. Entropy Technologies LP now owns 19,680 shares of the transportation company’s stock worth $329,000 after purchasing an additional 10,287 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Forward Air in the 1st quarter worth approximately $3,535,000. Institutional investors own 97.03% of the company’s stock.

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.