Forward Air Corporation (NASDAQ:FWRD)‘s stock had its “hold” rating reaffirmed by equities research analysts at Robert W. Baird in a research report issued on Friday. They presently have a $60.00 price objective on the transportation company’s stock. Robert W. Baird’s price target indicates a potential upside of 2.21% from the stock’s current price.

Several other analysts also recently weighed in on the company. BidaskClub upgraded Forward Air Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. KeyCorp reaffirmed a “hold” rating on shares of Forward Air Corporation in a report on Friday, September 22nd. Wolfe Research cut Forward Air Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 1st. Zacks Investment Research cut Forward Air Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $51.00 price target on shares of Forward Air Corporation in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Forward Air Corporation currently has an average rating of “Hold” and a consensus price target of $52.67.

Forward Air Corporation (NASDAQ FWRD) traded up 1.47% during trading on Friday, reaching $58.70. The company had a trading volume of 135,747 shares. Forward Air Corporation has a 12 month low of $40.07 and a 12 month high of $58.75. The company has a market capitalization of $1.78 billion, a P/E ratio of 30.70 and a beta of 1.12. The stock has a 50 day moving average of $53.63 and a 200-day moving average of $51.77.

Forward Air Corporation (NASDAQ:FWRD) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.06. Forward Air Corporation had a return on equity of 13.31% and a net margin of 5.68%. The firm had revenue of $267.50 million during the quarter, compared to the consensus estimate of $256.98 million. During the same quarter in the prior year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts expect that Forward Air Corporation will post $2.35 EPS for the current fiscal year.

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In related news, CAO Michael P. Mclean sold 15,718 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $51.05, for a total transaction of $802,403.90. Following the completion of the sale, the chief accounting officer now directly owns 20,559 shares of the company’s stock, valued at approximately $1,049,536.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Mclean sold 4,984 shares of the firm’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $54.82, for a total value of $273,222.88. Following the sale, the insider now directly owns 13,401 shares of the company’s stock, valued at $734,642.82. The disclosure for this sale can be found here. Insiders have sold a total of 23,197 shares of company stock valued at $1,205,367 over the last ninety days. Insiders own 2.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Forward Air Corporation during the 2nd quarter valued at $452,000. Public Employees Retirement System of Ohio increased its holdings in Forward Air Corporation by 0.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 56,848 shares of the transportation company’s stock valued at $3,029,000 after purchasing an additional 175 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Forward Air Corporation during the 2nd quarter valued at $348,000. Ameritas Investment Partners Inc. boosted its position in Forward Air Corporation 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. Finally, CS Mckee LP boosted its position in Forward Air Corporation by 0.9% in the 2nd quarter. CS Mckee LP now owns 32,300 shares of the transportation company’s stock valued at $1,721,000 after buying an additional 300 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Forward Air Corporation 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 Corporation (NASDAQ:FWRD)

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