According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
Separately, BidaskClub cut Forward Air from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $70.00.
NASDAQ:FWRD opened at $64.95 on Wednesday. The business’s 50-day moving average price is $62.92 and its 200 day moving average price is $61.46. The firm has a market cap of $1.81 billion, a P/E ratio of 20.82 and a beta of 1.54. Forward Air has a 52-week low of $51.54 and a 52-week high of $68.82. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.29.
Forward Air (NASDAQ:FWRD) last released its earnings results on Thursday, July 25th. The transportation company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.04). The firm had revenue of $345.76 million for the quarter, compared to analyst estimates of $348.07 million. Forward Air had a return on equity of 17.18% and a net margin of 6.70%. Forward Air’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. Sell-side analysts expect that Forward Air will post 3.2 EPS for the current year.
In related news, insider Glenn A. Adelaar sold 4,917 shares of Forward Air stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $61.05, for a total value of $300,182.85. Following the transaction, the insider now owns 41,177 shares of the company’s stock, valued at approximately $2,513,855.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.04% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new stake in Forward Air during the 2nd quarter worth about $30,000. Pathstone Family Office LLC acquired a new stake in Forward Air during the 2nd quarter worth about $31,000. Advisory Services Network LLC boosted its position in Forward Air by 70.8% during the 2nd quarter. Advisory Services Network LLC now owns 683 shares of the transportation company’s stock worth $41,000 after acquiring an additional 283 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Forward Air during the 2nd quarter worth about $47,000. Finally, Signaturefd LLC boosted its position in Forward Air by 3,767.7% during the 3rd quarter. Signaturefd LLC now owns 1,199 shares of the transportation company’s stock worth $76,000 after acquiring an additional 1,168 shares during the period. 95.06% of the stock is currently owned by hedge funds and other institutional investors.
Forward Air Company Profile
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-Than-Truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).
See Also: Capital Gains Distribution
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Forward Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air and related companies with MarketBeat.com's FREE daily email newsletter.