Forward Air (NASDAQ:FWRD) Rating Reiterated by Benchmark

Forward Air (NASDAQ:FWRD)‘s stock had its “hold” rating reissued by equities researchers at Benchmark in a research note issued to investors on Wednesday, Benzinga reports.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Stifel Nicolaus dropped their price objective on shares of Forward Air from $80.00 to $55.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Wolfe Research lowered shares of Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a report on Wednesday, January 10th. Finally, Robert W. Baird lowered their target price on shares of Forward Air from $50.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $80.14.

Forward Air Price Performance

Shares of NASDAQ:FWRD traded down $0.86 during trading on Wednesday, reaching $23.14. The stock had a trading volume of 176,928 shares, compared to its average volume of 926,041. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.46 and a quick ratio of 1.46. The business’s 50-day moving average price is $31.22 and its 200 day moving average price is $51.11. Forward Air has a 52 week low of $22.08 and a 52 week high of $121.38. The stock has a market capitalization of $610.20 million, a PE ratio of 3.62 and a beta of 0.98.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Thursday, February 29th. The transportation company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.16). Forward Air had a return on equity of 15.30% and a net margin of 10.58%. The company had revenue of $338.43 million during the quarter, compared to the consensus estimate of $406.96 million. During the same quarter last year, the firm earned $1.65 EPS. The business’s revenue for the quarter was down 16.0% on a year-over-year basis. As a group, equities analysts predict that Forward Air will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On Forward Air

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC grew its holdings in shares of Forward Air by 86.9% in the 3rd quarter. CWM LLC now owns 669 shares of the transportation company’s stock valued at $46,000 after buying an additional 311 shares during the period. Headlands Technologies LLC acquired a new position in shares of Forward Air in the 4th quarter valued at $52,000. Signaturefd LLC boosted its stake in Forward Air by 306.9% in the 3rd quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock worth $65,000 after purchasing an additional 715 shares during the period. TFO Wealth Partners LLC boosted its stake in Forward Air by 116,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock worth $73,000 after purchasing an additional 1,162 shares during the period. Finally, Spire Wealth Management bought a new position in Forward Air during the 1st quarter worth about $75,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

About Forward Air

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.