Forward Air Co. (FWRD) Receives Consensus Rating of “Hold” from Analysts

Forward Air Co. (NASDAQ:FWRD) has been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $55.33.

A number of equities analysts have issued reports on the company. Cowen restated a “market perform” rating and set a $54.00 target price (up previously from $51.00) on shares of Forward Air in a report on Monday, October 30th. Robert W. Baird restated a “hold” rating and set a $60.00 target price on shares of Forward Air in a report on Friday, October 6th. KeyCorp restated a “hold” rating on shares of Forward Air in a report on Friday, September 22nd. Zacks Investment Research cut Forward Air from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Finally, Stifel Nicolaus raised their target price on Forward Air from $47.00 to $52.00 and gave the stock a “hold” rating in a report on Thursday, October 26th.

In other news, insider Chris C. Ruble sold 23,020 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $57.75, for a total transaction of $1,329,405.00. Following the sale, the insider now owns 28,279 shares of the company’s stock, valued at $1,633,112.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George M. Lynch sold 1,640 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $57.00, for a total value of $93,480.00. Following the sale, the director now directly owns 12,383 shares in the company, valued at approximately $705,831. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,549 shares of company stock worth $5,250,836. 2.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC raised its position in shares of Forward Air by 72.5% during the second quarter. Riverhead Capital Management LLC now owns 1,897 shares of the transportation company’s stock worth $101,000 after purchasing an additional 797 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Forward Air during the second quarter worth about $117,000. Ameritas Investment Partners Inc. raised its position in Forward Air by 10.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,636 shares of the transportation company’s stock valued at $140,000 after buying an additional 246 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Forward Air in the 2nd quarter valued at approximately $158,000. Finally, Meeder Asset Management Inc. raised its position in Forward Air by 1,496.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,385 shares of the transportation company’s stock valued at $194,000 after buying an additional 3,173 shares during the last quarter. 95.70% of the stock is currently owned by institutional investors.

Shares of Forward Air (FWRD) traded up $2.08 on Tuesday, reaching $60.20. The company’s stock had a trading volume of 555,700 shares, compared to its average volume of 192,300. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.71. Forward Air has a 12-month low of $45.86 and a 12-month high of $60.61. The company has a market capitalization of $1,730.36, a PE ratio of 28.26 and a beta of 1.18.

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

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Forward Air Company Profile

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)

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