Forward Air Co. (FWRD) Given Average Rating of “Hold” by Analysts
Forward Air Co. (NASDAQ:FWRD) has been given a consensus rating of “Hold” by the eight ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $60.00.
Several research analysts have issued reports on the company. Zacks Investment Research lowered Forward Air from a “hold” rating to a “sell” rating in a report on Wednesday, April 11th. BidaskClub lowered Forward Air from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 27th. Stephens set a $74.00 price target on Forward Air and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Robert W. Baird upgraded Forward Air from a “neutral” rating to an “outperform” rating in a report on Thursday, January 18th.
Shares of Forward Air stock traded down $0.51 on Thursday, hitting $54.19. 45,812 shares of the company’s stock traded hands, compared to its average volume of 233,075. Forward Air has a one year low of $47.86 and a one year high of $64.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.71 and a quick ratio of 2.68. The firm has a market cap of $1,597.34, a price-to-earnings ratio of 23.05 and a beta of 1.25.
The company also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Thursday, March 8th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, March 7th. This represents a $0.60 annualized dividend and a yield of 1.11%. Forward Air’s payout ratio is currently 25.42%.
In other news, Director George M. Lynch sold 2,443 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $55.47, for a total value of $135,513.21. Following the completion of the sale, the director now directly owns 9,940 shares of the company’s stock, valued at $551,371.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.95% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of FWRD. Assenagon Asset Management S.A. purchased a new stake in shares of Forward Air in the fourth quarter worth approximately $7,980,000. Boston Partners purchased a new stake in shares of Forward Air in the fourth quarter worth approximately $2,756,000. Deutsche Bank AG raised its stake in shares of Forward Air by 81.9% in the fourth quarter. Deutsche Bank AG now owns 102,345 shares of the transportation company’s stock worth $5,877,000 after purchasing an additional 46,090 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Forward Air in the fourth quarter worth approximately $2,271,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Forward Air by 6.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 585,963 shares of the transportation company’s stock worth $33,657,000 after purchasing an additional 36,029 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.
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Forward Air Company Profile
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-than-truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).
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