Forward Air (NASDAQ:FWRD) Earns “Hold” Rating from Benchmark

Benchmark reaffirmed their hold rating on shares of Forward Air (NASDAQ:FWRDFree Report) in a report issued on Thursday, Benzinga reports.

Several other equities analysts have also weighed in on the stock. Wolfe Research lowered shares of Forward Air from a peer perform rating to an underperform rating and set a $50.00 target price for the company. in a report on Wednesday, January 10th. StockNews.com lowered shares of Forward Air from a hold rating to a sell rating in a report on Monday, March 18th. Stifel Nicolaus cut their price target on shares of Forward Air from $80.00 to $55.00 and set a hold rating for the company in a report on Monday, January 22nd. Finally, Robert W. Baird cut their price target on shares of Forward Air from $50.00 to $40.00 and set a neutral rating for the company in a report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Forward Air presently has a consensus rating of Hold and a consensus price target of $80.14.

View Our Latest Report on Forward Air

Forward Air Price Performance

NASDAQ:FWRD opened at $23.78 on Thursday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market cap of $627.08 million, a price-to-earnings ratio of 3.70 and a beta of 0.98. The company has a 50 day moving average price of $31.61 and a 200-day moving average price of $51.58. Forward Air has a 1-year low of $22.08 and a 1-year high of $121.38.

Forward Air (NASDAQ:FWRDGet Free Report) last posted its earnings results on Thursday, February 29th. The transportation company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.16). The firm had revenue of $338.43 million for the quarter, compared to analysts’ expectations of $406.96 million. Forward Air had a net margin of 10.58% and a return on equity of 15.30%. Forward Air’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period last year, the firm earned $1.65 earnings per share. Equities research analysts forecast that Forward Air will post 0.56 EPS for the current year.

Institutional Investors Weigh In On Forward Air

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cim Investment Management Inc. boosted its stake in Forward Air by 3.6% during the 1st quarter. Cim Investment Management Inc. now owns 3,541 shares of the transportation company’s stock worth $382,000 after purchasing an additional 122 shares during the last quarter. Gotham Asset Management LLC grew its holdings in shares of Forward Air by 1.5% in the first quarter. Gotham Asset Management LLC now owns 9,202 shares of the transportation company’s stock valued at $992,000 after purchasing an additional 134 shares during the period. Guggenheim Capital LLC grew its holdings in shares of Forward Air by 7.1% in the second quarter. Guggenheim Capital LLC now owns 2,428 shares of the transportation company’s stock valued at $258,000 after purchasing an additional 161 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of Forward Air by 39.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 185 shares during the period. Finally, US Bancorp DE grew its holdings in shares of Forward Air by 3.9% in the first quarter. US Bancorp DE now owns 5,053 shares of the transportation company’s stock valued at $495,000 after purchasing an additional 192 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Company Profile

(Get Free Report)

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.

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Analyst Recommendations for Forward Air (NASDAQ:FWRD)

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