Forward Air (FWRD) Upgraded at BidaskClub

BidaskClub upgraded shares of Forward Air (NASDAQ:FWRD) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

FWRD has been the topic of several other reports. Robert W. Baird reissued a hold rating and issued a $60.00 target price on shares of Forward Air in a report on Friday, October 6th. Zacks Investment Research lowered shares of Forward Air from a hold rating to a sell rating in a report on Friday, October 27th. KeyCorp reissued a hold rating on shares of Forward Air in a report on Friday, September 22nd. Cowen reissued a hold rating and issued a $51.00 target price on shares of Forward Air in a report on Thursday, August 10th. Finally, Stifel Nicolaus raised their target price on shares of Forward Air from $47.00 to $52.00 and gave the company a hold rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. The company currently has an average rating of Hold and an average target price of $55.33.

Forward Air (NASDAQ:FWRD) opened at $57.73 on Friday. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.08. Forward Air has a 1-year low of $45.86 and a 1-year high of $59.97. The company has a market cap of $1,694.64, a PE ratio of 24.86 and a beta of 1.18.

Forward Air (NASDAQ:FWRD) last released its earnings results on Wednesday, October 25th. The transportation company reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. Forward Air had a net margin of 6.10% and a return on equity of 13.76%. The firm had revenue of $280.20 million for the quarter, compared to analyst estimates of $278.75 million. During the same period last year, the firm earned $0.51 EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. equities research analysts predict that Forward Air will post 2.33 earnings per share for the current year.

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

In related news, Chairman Bruce A. Campbell sold 5,264 shares of Forward Air stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $55.43, for a total transaction of $291,783.52. Following the sale, the chairman now directly owns 153,454 shares of the company’s stock, valued at approximately $8,505,955.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bruce A. Campbell sold 34,281 shares of Forward Air stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $55.01, for a total transaction of $1,885,797.81. Following the sale, the chairman now directly owns 155,831 shares in the company, valued at $8,572,263.31. The disclosure for this sale can be found here. Insiders have sold a total of 75,413 shares of company stock worth $4,188,859 over the last ninety days. 2.40% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP grew its holdings in shares of Forward Air by 78.0% during the 3rd quarter. GSA Capital Partners LLP now owns 9,373 shares of the transportation company’s stock valued at $536,000 after purchasing an additional 4,106 shares during the last quarter. Algert Global LLC grew its holdings in shares of Forward Air by 19.2% during the 3rd quarter. Algert Global LLC now owns 54,656 shares of the transportation company’s stock valued at $3,128,000 after purchasing an additional 8,807 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Forward Air by 1.9% during the 3rd quarter. California Public Employees Retirement System now owns 59,518 shares of the transportation company’s stock valued at $3,406,000 after purchasing an additional 1,118 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in Forward Air by 3.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 90,081 shares of the transportation company’s stock worth $5,155,000 after buying an additional 2,774 shares during the period. Finally, Allianz Asset Management GmbH acquired a new stake in Forward Air during the 3rd quarter worth approximately $1,105,000. 95.87% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This article was first reported by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://www.com-unik.info/2017/12/05/forward-air-fwrd-upgraded-at-bidaskclub.html.

About Forward Air

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 (NASDAQ:FWRD)

What are top analysts saying about Forward Air Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Forward Air Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit