Forward Air (NASDAQ:FWRD) Trading 6.1% Higher

Shares of Forward Air Co. (NASDAQ:FWRD) were up 6.1% during trading on Wednesday . The stock traded as high as $20.33 and last traded at $20.25. Approximately 117,231 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,145,250 shares. The stock had previously closed at $19.08.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wolfe Research raised Forward Air from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, May 28th. StockNews.com lowered Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, March 18th. Benchmark reissued a “hold” rating on shares of Forward Air in a research note on Wednesday, April 24th. Finally, Robert W. Baird reduced their price objective on Forward Air from $24.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $76.43.

Forward Air Stock Up 4.4 %

The company has a debt-to-equity ratio of 1.27, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market cap of $526.68 million, a price-to-earnings ratio of 5.84 and a beta of 0.99. The firm has a 50 day moving average price of $18.90 and a 200-day moving average price of $35.10.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings results on Wednesday, May 8th. The transportation company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.49). The firm had revenue of $541.81 million for the quarter, compared to analyst estimates of $644.00 million. Forward Air had a net margin of 4.08% and a return on equity of 5.37%. During the same period last year, the company earned $1.37 EPS. As a group, equities analysts predict that Forward Air Co. will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Forward Air

Hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its position in shares of Forward Air by 413.5% during the first quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock worth $26,000 after purchasing an additional 674 shares during the period. Headlands Technologies LLC raised its position in shares of Forward Air by 98.5% during the first quarter. Headlands Technologies LLC now owns 1,634 shares of the transportation company’s stock worth $51,000 after purchasing an additional 811 shares during the period. TFO Wealth Partners LLC raised its position in shares of Forward Air by 116,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock worth $73,000 after purchasing an additional 1,162 shares during the period. Spire Wealth Management acquired a new stake in shares of Forward Air during the first quarter worth about $75,000. Finally, Rocky Mountain Advisers LLC acquired a new stake in shares of Forward Air during the first quarter worth about $93,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

About Forward Air

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.