Analysts Set Forward Air Corp. (NASDAQ:FWRD) Target Price at $50.00
Forward Air Corp. (NASDAQ:FWRD) has received an average recommendation of “Hold” from the seven ratings firms that are currently covering the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $50.00.
A number of equities analysts have commented on the stock. Cowen and Company upped their target price on shares of Forward Air Corp. from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, July 25th. Zacks Investment Research upgraded shares of Forward Air Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. TheStreet downgraded shares of Forward Air Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, September 22nd. Finally, BB&T Corp. downgraded shares of Forward Air Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th.
In other news, insider Rodney L. Bell sold 1,050 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $46.50, for a total transaction of $48,825.00. Following the transaction, the insider now directly owns 109,946 shares in the company, valued at $5,112,489. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Michael L. Hance sold 18,000 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $46.05, for a total transaction of $828,900.00. Following the transaction, the vice president now owns 18,646 shares in the company, valued at $858,648.30. The disclosure for this sale can be found here. Insiders own 3.35% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in FWRD. Bank of Montreal Can purchased a new stake in Forward Air Corp. during the second quarter worth approximately $109,000. BlackRock Inc. boosted its stake in Forward Air Corp. by 13.7% in the second quarter. BlackRock Inc. now owns 2,482 shares of the company’s stock worth $111,000 after buying an additional 300 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in Forward Air Corp. during the second quarter worth approximately $134,000. Advisor Group Inc. purchased a new stake in Forward Air Corp. during the second quarter worth approximately $156,000. Finally, PineBridge Investments L.P. boosted its stake in Forward Air Corp. by 3.5% in the second quarter. PineBridge Investments L.P. now owns 3,861 shares of the company’s stock worth $172,000 after buying an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 98.42% of the company’s stock.
Forward Air Corp. (NASDAQ:FWRD) opened at 43.26 on Monday. Forward Air Corp. has a one year low of $36.00 and a one year high of $50.47. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 31.83 and a beta of 1.29. The firm’s 50-day moving average price is $45.19 and its 200 day moving average price is $45.18.
Forward Air Corp. (NASDAQ:FWRD) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.01. Forward Air Corp. had a return on equity of 14.41% and a net margin of 4.32%. The firm earned $238.60 million during the quarter, compared to analysts’ expectations of $247.86 million. On average, equities research analysts expect that Forward Air Corp. will post $2.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.11%. Forward Air Corp.’s dividend payout ratio is presently 35.56%.
Forward Air Corp. Company Profile
Forward Air Corporation offers services, which are classified into three segments: Forward Air, Forward Air Solutions (FASI) and Total Quality (TQI). The Company, through its three segments, offers a range of logistic and other services, including expedited full truckload (TLX), pick-up and delivery (Forward Air Complete), pool distribution, temperature-controlled truckload, warehousing, customs brokerage and shipment consolidation and handling.
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