Stifel Nicolaus Analysts Give Forward Air (FWRD) a $68.00 Price Target

Forward Air (NASDAQ:FWRD) received a $68.00 target price from research analysts at Stifel Nicolaus in a research report issued to clients and investors on Thursday. The firm presently has a “hold” rating on the transportation company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 14.59% from the company’s current price.

FWRD has been the subject of several other research reports. Zacks Investment Research cut shares of Forward Air from a “buy” rating to a “hold” rating in a research report on Thursday, July 5th. Deutsche Bank set a $73.00 price target on shares of Forward Air and gave the stock a “buy” rating in a research report on Thursday, September 27th. Stephens set a $70.00 price target on shares of Forward Air and gave the stock a “buy” rating in a research report on Friday, July 27th. BidaskClub upgraded shares of Forward Air from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 29th. Finally, ValuEngine cut shares of Forward Air from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $66.40.

Shares of NASDAQ:FWRD opened at $59.34 on Thursday. Forward Air has a one year low of $49.88 and a one year high of $72.81. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.90 billion, a PE ratio of 25.14 and a beta of 1.38.



Forward Air (NASDAQ:FWRD) last issued its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Forward Air had a net margin of 7.84% and a return on equity of 15.16%. The company had revenue of $331.38 million during the quarter, compared to analysts’ expectations of $327.81 million. As a group, equities research analysts forecast that Forward Air will post 3.12 earnings per share for the current fiscal year.

In related news, COO Chris C. Ruble sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $62.50, for a total transaction of $125,000.00. Following the completion of the transaction, the chief operating officer now owns 26,338 shares in the company, valued at $1,646,125. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Bruce A. Campbell sold 8,790 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $64.53, for a total transaction of $567,218.70. Following the transaction, the chairman now owns 138,442 shares of the company’s stock, valued at approximately $8,933,662.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,417 shares of company stock valued at $3,213,107. 1.95% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Radnor Capital Management LLC grew its holdings in Forward Air by 11.2% during the third quarter. Radnor Capital Management LLC now owns 7,560 shares of the transportation company’s stock valued at $542,000 after purchasing an additional 760 shares during the period. Xact Kapitalforvaltning AB grew its holdings in Forward Air by 22.0% during the first quarter. Xact Kapitalforvaltning AB now owns 5,537 shares of the transportation company’s stock valued at $293,000 after purchasing an additional 1,000 shares during the period. Summit Global Investments grew its holdings in Forward Air by 13.0% during the second quarter. Summit Global Investments now owns 11,300 shares of the transportation company’s stock valued at $668,000 after purchasing an additional 1,300 shares during the period. UBS Group AG grew its holdings in Forward Air by 4.5% during the first quarter. UBS Group AG now owns 42,874 shares of the transportation company’s stock valued at $2,267,000 after purchasing an additional 1,833 shares during the period. Finally, Sei Investments Co. grew its holdings in Forward Air by 1,075.0% during the first quarter. Sei Investments Co. now owns 2,256 shares of the transportation company’s stock valued at $119,000 after purchasing an additional 2,064 shares during the period. Hedge funds and other institutional investors own 93.70% of the company’s stock.

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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Analyst Recommendations for Forward Air (NASDAQ:FWRD)

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