Forward Air Corporation (NASDAQ:FWRD) Receives Consensus Rating of “Hold” from Brokerages

Forward Air Corporation (NASDAQ:FWRD) has received an average recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $37.00.

FWRD has been the subject of several recent analyst reports. Susquehanna restated a “positive” rating and set a $42.00 target price on shares of Forward Air in a research report on Tuesday, February 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a research report on Thursday, January 22nd. Zacks Research downgraded shares of Forward Air from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Finally, Stifel Nicolaus lifted their price target on shares of Forward Air from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st.

Forward Air Stock Up 5.3%

Shares of NASDAQ:FWRD opened at $18.40 on Friday. Forward Air has a 1 year low of $9.78 and a 1 year high of $32.47. The business has a 50 day simple moving average of $22.50 and a two-hundred day simple moving average of $23.41. The firm has a market capitalization of $580.52 million, a PE ratio of -5.23 and a beta of 1.46. The company has a debt-to-equity ratio of 10.58, a current ratio of 1.22 and a quick ratio of 1.22.

Forward Air (NASDAQ:FWRD) last announced its earnings results on Monday, February 23rd. The transportation company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Forward Air had a negative net margin of 4.32% and a negative return on equity of 42.67%. The business had revenue of $631.23 million for the quarter, compared to analysts’ expectations of $629.60 million. During the same quarter last year, the firm earned ($1.23) EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts predict that Forward Air will post -0.72 EPS for the current year.

Institutional Trading of Forward Air

Institutional investors and hedge funds have recently modified their holdings of the stock. Clear Harbor Asset Management LLC bought a new position in Forward Air in the third quarter worth approximately $1,091,000. Rothschild Investment LLC raised its stake in Forward Air by 337,481.3% in the third quarter. Rothschild Investment LLC now owns 270,065 shares of the transportation company’s stock worth $6,924,000 after buying an additional 269,985 shares in the last quarter. Integrity Financial Corp WA bought a new position in Forward Air in the third quarter worth approximately $853,000. Allianz Asset Management GmbH bought a new position in Forward Air in the third quarter worth approximately $8,295,000. Finally, Caxton Associates LLP raised its stake in Forward Air by 124.2% in the second quarter. Caxton Associates LLP now owns 107,113 shares of the transportation company’s stock worth $2,629,000 after buying an additional 59,345 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

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.