Forward Air Co. (NASDAQ:FWRD) Given Average Recommendation of “Hold” by Analysts

Shares of Forward Air Co. (NASDAQ:FWRD) have been given a consensus rating of “Hold” by the six brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $70.00.

A number of equities analysts have recently issued reports on the stock. Deutsche Bank increased their price objective on shares of Forward Air from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Zacks Investment Research upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, BidaskClub upgraded shares of Forward Air from a “hold” rating to a “buy” rating in a research note on Tuesday, July 30th.

NASDAQ:FWRD traded down $2.08 during trading hours on Wednesday, hitting $59.63. 87,133 shares of the company traded hands, compared to its average volume of 160,092. The company has a market capitalization of $1.73 billion, a PE ratio of 19.11 and a beta of 1.54. Forward Air has a twelve month low of $51.54 and a twelve month high of $72.81. The stock’s 50-day moving average price is $60.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.41 and a quick ratio of 1.41.



Forward Air (NASDAQ:FWRD) last released its earnings results on Thursday, July 25th. The transportation company reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.04). The company had revenue of $345.76 million for the quarter, compared to analyst estimates of $348.07 million. Forward Air had a net margin of 6.70% and a return on equity of 17.18%. Forward Air’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 earnings per share. On average, analysts expect that Forward Air will post 3.24 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, August 21st. Forward Air’s dividend payout ratio is 23.08%.

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Forward Air by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,296,860 shares of the transportation company’s stock valued at $71,133,000 after purchasing an additional 7,101 shares during the period. Bank of America Corp DE boosted its stake in Forward Air by 35.4% during the 4th quarter. Bank of America Corp DE now owns 149,976 shares of the transportation company’s stock valued at $8,226,000 after purchasing an additional 39,210 shares during the period. Legal & General Group Plc boosted its stake in Forward Air by 2.9% during the 4th quarter. Legal & General Group Plc now owns 71,494 shares of the transportation company’s stock valued at $3,918,000 after purchasing an additional 2,010 shares during the period. Millennium Management LLC boosted its stake in Forward Air by 20.1% during the 4th quarter. Millennium Management LLC now owns 13,142 shares of the transportation company’s stock valued at $721,000 after purchasing an additional 2,199 shares during the period. Finally, Amalgamated Bank acquired a new position in Forward Air during the 4th quarter valued at about $252,000. Institutional investors own 93.84% 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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