Forward Air’s (FWRD) Buy Rating Reiterated at Stephens

Forward Air (NASDAQ:FWRD)‘s stock had its “buy” rating reissued by investment analysts at Stephens in a research report issued on Wednesday. They presently have a $80.00 target price on the transportation company’s stock. Stephens’ price target would suggest a potential upside of 34.54% from the company’s previous close.

Several other analysts have also commented on the company. Zacks Investment Research raised Forward Air from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Tuesday. BidaskClub downgraded Forward Air from a “hold” rating to a “sell” rating in a research report on Saturday. Cowen reiterated a “market perform” rating and issued a $54.00 price objective (up previously from $51.00) on shares of Forward Air in a research report on Monday, October 30th. Stifel Nicolaus lifted their price objective on Forward Air from $47.00 to $52.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $60.00 price objective on shares of Forward Air in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $62.60.

Shares of Forward Air (NASDAQ:FWRD) traded down $0.74 during mid-day trading on Wednesday, reaching $59.46. The company had a trading volume of 160,300 shares, compared to its average volume of 186,967. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1,730.36, a price-to-earnings ratio of 27.92 and a beta of 1.18. Forward Air has a twelve month low of $45.86 and a twelve month high of $60.68.

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

In other news, Chairman Bruce A. Campbell sold 34,281 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.01, for a total transaction of $1,885,797.81. Following the completion of the sale, the chairman now owns 155,831 shares in the company, valued at $8,572,263.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Chris C. Ruble sold 23,020 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $57.75, for a total value of $1,329,405.00. Following the sale, the insider now owns 28,279 shares of the company’s stock, valued at approximately $1,633,112.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,549 shares of company stock valued at $5,250,836. 2.40% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. Confluence Investment Management LLC grew its stake in shares of Forward Air by 3.0% during the fourth quarter. Confluence Investment Management LLC now owns 79,894 shares of the transportation company’s stock worth $4,589,000 after purchasing an additional 2,352 shares during the period. Atlantic Trust Group LLC acquired a new stake in shares of Forward Air during the third quarter worth $1,388,000. GSA Capital Partners LLP grew its stake in shares of Forward Air by 78.0% during the third quarter. GSA Capital Partners LLP now owns 9,373 shares of the transportation company’s stock worth $536,000 after purchasing an additional 4,106 shares during the period. Algert Global LLC grew its stake in shares of Forward Air by 19.2% during the third quarter. Algert Global LLC now owns 54,656 shares of the transportation company’s stock worth $3,128,000 after purchasing an additional 8,807 shares during the period. Finally, California Public Employees Retirement System grew its stake in shares of Forward Air by 1.9% during the third quarter. California Public Employees Retirement System now owns 59,518 shares of the transportation company’s stock worth $3,406,000 after purchasing an additional 1,118 shares during the period. 95.70% of the stock is owned by institutional investors and hedge funds.

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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.

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