Forward Air (FWRD) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Forward Air (NASDAQ:FWRD) from a hold rating to a buy rating in a research note released on Saturday, BidAskClub reports.

A number of other equities analysts also recently weighed in on the stock. ValuEngine raised shares of Forward Air from a hold rating to a buy rating in a research note on Friday, February 8th. Zacks Investment Research raised shares of Forward Air from a sell rating to a hold rating in a research note on Monday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $68.75.

NASDAQ FWRD opened at $68.12 on Friday. Forward Air has a 1-year low of $51.54 and a 1-year high of $72.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.66 and a current ratio of 2.69. The firm has a market capitalization of $1.93 billion, a PE ratio of 21.83 and a beta of 1.63.



Forward Air (NASDAQ:FWRD) last posted its quarterly earnings results on Thursday, February 7th. The transportation company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.12. Forward Air had a net margin of 6.97% and a return on equity of 16.97%. The business had revenue of $356.60 million for the quarter, compared to the consensus estimate of $347.16 million. During the same period in the prior year, the business posted $0.65 earnings per share. Forward Air’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, sell-side analysts predict that Forward Air will post 3.4 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Wednesday, March 6th. Forward Air’s payout ratio is 23.08%.

In other Forward Air news, COO Chris C. Ruble sold 7,926 shares of the stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $65.12, for a total transaction of $516,141.12. Following the transaction, the chief operating officer now directly owns 31,489 shares of the company’s stock, valued at $2,050,563.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Chris C. Ruble sold 2,000 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $68.10, for a total transaction of $136,200.00. Following the transaction, the chief operating officer now directly owns 26,363 shares in the company, valued at $1,795,320.30. The disclosure for this sale can be found here. Insiders have sold 43,087 shares of company stock worth $2,842,670 over the last three months. Company insiders own 2.04% of the company’s stock.

A number of institutional investors have recently bought and sold shares of FWRD. Norges Bank acquired a new position in Forward Air during the fourth quarter worth $26,713,000. FMR LLC increased its position in Forward Air by 252.6% during the third quarter. FMR LLC now owns 457,610 shares of the transportation company’s stock worth $32,811,000 after buying an additional 327,825 shares during the last quarter. Clearbridge Investments LLC increased its position in Forward Air by 88.5% during the third quarter. Clearbridge Investments LLC now owns 430,973 shares of the transportation company’s stock worth $30,901,000 after buying an additional 202,329 shares during the last quarter. BlackRock Inc. increased its position in Forward Air by 3.2% during the third quarter. BlackRock Inc. now owns 4,198,918 shares of the transportation company’s stock worth $301,061,000 after buying an additional 128,495 shares during the last quarter. Finally, Vanguard Group Inc boosted its holdings in Forward Air by 2.1% during the third quarter. Vanguard Group Inc now owns 2,917,550 shares of the transportation company’s stock valued at $209,189,000 after acquiring an additional 59,982 shares during the period. 97.81% of the stock is currently owned by hedge funds and other institutional investors.

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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