Forward Air (NASDAQ:FWRD) Shares Gap Up – Time to Buy?

Forward Air Corporation (NASDAQ:FWRD)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $25.28, but opened at $26.76. Forward Air shares last traded at $25.80, with a volume of 140,774 shares.

More Forward Air News

Here are the key news stories impacting Forward Air this week:

• Positive Sentiment: Management laid out a 2026 growth strategy and a technology-transformation program intended to improve network efficiency and customer service; management pointed to initiatives that could lift margins over time, which supports a constructive medium-term thesis. Forward Air outlines 2026 growth strategy and tech transformation amid stable $307M EBITDA performance
• Positive Sentiment: Company reported roughly stable/consistent EBITDA (management referenced about $307M), suggesting some operating resilience despite headwinds — a reason some investors are willing to look past the headline EPS miss. Seeking Alpha EBITDA coverage
• Neutral Sentiment: Revenue came in around $631M (near/roughly in line with consensus), producing mixed top-line signals: revenue was roughly flat to modestly down depending on the source — not an outright collapse but not clear upside either. Forward Air Corp (FWRD) Q4 2025 Earnings Call Highlights
• Negative Sentiment: Headline EPS missed materially — reported a loss (market summaries show EPS around -$0.91 vs. consensus around -$0.27) — which is the main driver of near-term share weakness and investor concern. MarketBeat Q4 earnings summary
• Negative Sentiment: Profitability deteriorated: Quiver/other reports show a deep net loss, operating loss, a sharp rise in cost of sales and a steep YoY drop in gross profit — these items increase downside risk until cost structure stabilizes. QuiverQuant Q4 results detail
• Negative Sentiment: Cash-flow and balance-sheet pressures: operating cash was negative in the quarter, capex rose modestly, and leverage remains high — factors that could limit flexibility and keep investor caution elevated. Institutional selling and insider transaction patterns were also noted in recent filings. QuiverQuant balance-sheet and ownership details

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FWRD shares. Susquehanna reiterated a “positive” rating and issued a $42.00 target price on shares of Forward Air in a research note on Tuesday. Stifel Nicolaus upped their price target on Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Zacks Research lowered shares of Forward Air from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Forward Air in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $34.00.

Forward Air Stock Performance

The company’s fifty day simple moving average is $27.14 and its two-hundred day simple moving average is $25.63. The company has a market capitalization of $812.97 million, a price-to-earnings ratio of -6.85 and a beta of 1.35. The company has a debt-to-equity ratio of 8.73, a quick ratio of 1.20 and a current ratio of 1.20.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings results on Monday, February 23rd. The transportation company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.64). The company had revenue of $631.23 million for the quarter, compared to the consensus estimate of $629.60 million. Forward Air had a negative return on equity of 33.13% and a negative net margin of 4.64%.The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted ($1.23) EPS. Equities research analysts predict that Forward Air Corporation will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Forward Air

Several institutional investors and hedge funds have recently made changes to their positions in FWRD. Clear Harbor Asset Management LLC bought a new stake in Forward Air during the third quarter valued at $1,091,000. Rothschild Investment LLC boosted its holdings in shares of Forward Air by 337,481.3% in the 3rd quarter. Rothschild Investment LLC now owns 270,065 shares of the transportation company’s stock valued at $6,924,000 after buying an additional 269,985 shares during the period. Private Management Group Inc. grew its position in shares of Forward Air by 8.7% during the 2nd quarter. Private Management Group Inc. now owns 1,046,226 shares of the transportation company’s stock valued at $25,674,000 after buying an additional 83,600 shares during the last quarter. Jefferies Financial Group Inc. raised its stake in Forward Air by 7.0% during the second quarter. Jefferies Financial Group Inc. now owns 384,634 shares of the transportation company’s stock worth $9,439,000 after acquiring an additional 25,283 shares during the period. Finally, Caxton Associates LLP raised its stake in Forward Air by 124.2% during the second quarter. Caxton Associates LLP now owns 107,113 shares of the transportation company’s stock worth $2,629,000 after acquiring an additional 59,345 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

About Forward Air

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.