Forward Air Co. (NASDAQ:FWRD) has been assigned a consensus rating of “Buy” from the seven analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $69.33.

A number of equities research analysts recently commented on FWRD shares. ValuEngine raised Forward Air from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. BidaskClub lowered Forward Air from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. Deutsche Bank started coverage on Forward Air in a research report on Tuesday, September 4th. They issued a “buy” rating and a $72.00 price target for the company. Stifel Nicolaus increased their price target on Forward Air from $64.00 to $68.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Finally, Stephens set a $70.00 price target on Forward Air and gave the company a “buy” rating in a research report on Friday, July 27th.

In other news, Chairman Bruce A. Campbell sold 8,523 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $64.51, for a total transaction of $549,818.73. Following the completion of the sale, the chairman now directly owns 138,175 shares of the company’s stock, valued at approximately $8,913,669.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Matthew J. Jewell sold 8,080 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $63.00, for a total value of $509,040.00. Following the sale, the insider now directly owns 51,409 shares of the company’s stock, valued at $3,238,767. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,985 shares of company stock valued at $2,310,672. Insiders own 1.95% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Forward Air by 3.2% during the 3rd quarter. BlackRock Inc. now owns 4,198,918 shares of the transportation company’s stock valued at $301,061,000 after purchasing an additional 128,495 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Forward Air by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,295,515 shares of the transportation company’s stock valued at $76,539,000 after purchasing an additional 27,013 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Forward Air by 18.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,192,218 shares of the transportation company’s stock valued at $85,482,000 after purchasing an additional 188,810 shares during the last quarter. FMR LLC increased its position in shares of Forward Air by 252.6% during the 3rd quarter. FMR LLC now owns 457,610 shares of the transportation company’s stock valued at $32,811,000 after purchasing an additional 327,825 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Forward Air by 1.2% during the 2nd quarter. Northern Trust Corp now owns 443,451 shares of the transportation company’s stock valued at $26,200,000 after purchasing an additional 5,175 shares during the last quarter. 94.12% of the stock is owned by hedge funds and other institutional investors.

Shares of FWRD traded down $0.92 during trading hours on Monday, reaching $61.38. The stock had a trading volume of 103,034 shares, compared to its average volume of 185,429. Forward Air has a 12 month low of $49.88 and a 12 month high of $72.81. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.84 billion, a P/E ratio of 26.01 and a beta of 1.52.

Forward Air (NASDAQ:FWRD) last issued its earnings results on Wednesday, October 24th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Forward Air had a return on equity of 15.63% and a net margin of 7.85%. The company had revenue of $331.38 million for the quarter, compared to analysts’ expectations of $327.81 million. On average, analysts expect that Forward Air will post 3.03 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 23rd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, November 21st. This is a positive change from Forward Air’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a dividend yield of 1.17%. Forward Air’s dividend payout ratio (DPR) is currently 25.42%.

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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