Forward Air (NASDAQ:FWRD) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Saturday.

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

Forward Air (NASDAQ FWRD) opened at $56.92 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.71. The firm has a market cap of $1,694.64, a PE ratio of 24.86 and a beta of 1.18. Forward Air has a 12 month low of $43.88 and a 12 month high of $59.97.

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

In other Forward Air news, insider Michael P. Mclean sold 4,984 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $54.82, for a total transaction of $273,222.88. Following the sale, the insider now owns 13,401 shares of the company’s stock, valued at $734,642.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Bruce A. Campbell sold 500 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $55.45, for a total transaction of $27,725.00. Following the sale, the chief executive officer now directly owns 153,454 shares in the company, valued at approximately $8,509,024.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,413 shares of company stock worth $4,188,859. 2.40% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP grew its position 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 acquiring an additional 4,106 shares during the last quarter. Algert Global LLC grew its position 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 acquiring an additional 8,807 shares during the last quarter. California Public Employees Retirement System grew its position 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 acquiring an additional 1,118 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in shares of Forward Air by 3.2% during the third quarter. Segall Bryant & Hamill LLC now owns 90,081 shares of the transportation company’s stock worth $5,155,000 after acquiring an additional 2,774 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in shares of Forward Air during the third quarter worth approximately $1,105,000. 95.87% of the stock is currently owned by institutional investors.

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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)

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