Forward Air (NASDAQ:FWRD) Sets New 52-Week High at $73.36

Forward Air Co. (NASDAQ:FWRD)’s stock price hit a new 52-week high on Friday . The stock traded as high as $73.36 and last traded at $69.00, with a volume of 1217 shares trading hands. The stock had previously closed at $65.38.

FWRD has been the topic of several recent analyst reports. BidaskClub upgraded Forward Air from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research upgraded Forward Air from a “sell” rating to a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $70.00.

The company has a market capitalization of $1.86 billion, a P/E ratio of 20.96 and a beta of 1.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a 50 day moving average price of $63.08 and a 200 day moving average price of $61.47.

Forward Air (NASDAQ:FWRD) last released its earnings results on Thursday, October 24th. The transportation company reported $0.78 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.78. The company had revenue of $361.70 million for the quarter, compared to analysts’ expectations of $354.91 million. Forward Air had a return on equity of 17.18% and a net margin of 6.70%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 EPS. As a group, sell-side analysts expect that Forward Air Co. will post 3.2 earnings per share for the current year.

In other news, insider Glenn A. Adelaar sold 4,917 shares of Forward Air stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $61.05, for a total transaction of $300,182.85. Following the sale, the insider now directly owns 41,177 shares in the company, valued at approximately $2,513,855.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.04% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in Forward Air in the 2nd quarter worth about $30,000. Pathstone Family Office LLC purchased a new stake in Forward Air in the 2nd quarter worth about $31,000. Advisory Services Network LLC increased its holdings in Forward Air by 70.8% in the 2nd quarter. Advisory Services Network LLC now owns 683 shares of the transportation company’s stock worth $41,000 after acquiring an additional 283 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Forward Air in the 2nd quarter worth about $47,000. Finally, Tower Research Capital LLC TRC increased its holdings in Forward Air by 3,740.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,229 shares of the transportation company’s stock worth $73,000 after acquiring an additional 1,197 shares during the last quarter. Institutional investors own 95.06% of the company’s stock.

Forward Air Company Profile (NASDAQ:FWRD)

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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