Forward Air Co. (NASDAQ:FWRD) Receives $76.43 Consensus PT from Analysts

Forward Air Co. (NASDAQ:FWRD) has earned an average rating of “Hold” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $76.43.

FWRD has been the subject of a number of recent analyst reports. StockNews.com cut shares of Forward Air from a “hold” rating to a “sell” rating in a report on Monday, March 18th. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a report on Wednesday, April 24th. Robert W. Baird dropped their price objective on Forward Air from $24.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Finally, Wolfe Research upgraded Forward Air from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, May 28th.

Hedge Funds Weigh In On Forward Air

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sona Asset Management US LLC acquired a new position in Forward Air in the 1st quarter valued at $2,178,000. Tidal Investments LLC grew its holdings in shares of Forward Air by 103.9% during the first quarter. Tidal Investments LLC now owns 21,347 shares of the transportation company’s stock worth $664,000 after buying an additional 10,877 shares in the last quarter. Caxton Associates LP acquired a new stake in shares of Forward Air in the first quarter valued at about $236,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Forward Air by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,604 shares of the transportation company’s stock worth $641,000 after buying an additional 5,427 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its position in Forward Air by 22.4% during the first quarter. Quadrature Capital Ltd now owns 73,193 shares of the transportation company’s stock worth $2,276,000 after acquiring an additional 13,385 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Stock Up 1.1 %

Forward Air stock opened at $19.88 on Friday. The business’s 50-day moving average price is $18.78 and its 200 day moving average price is $34.88. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.27. The firm has a market cap of $525.59 million, a price-to-earnings ratio of 5.81 and a beta of 0.99. Forward Air has a 52 week low of $11.21 and a 52 week high of $121.38.

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

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.