Forward Air Corporation (NASDAQ:FWRD) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts give Forward Air an average rating of Hold from five analysts (2 sell, 3 buy) with a mean 1‑year price target of $37, reflecting divergent views such as Zacks' "strong sell" and Susquehanna's $42 target.
• Forward Air reported Q EPS of ($0.28), missing estimates by $0.01 while revenue of $631.2M slightly beat expectations; the company has negative margins and a negative PE (-4.95), with shares recently trading near $17.41 (52‑week range $9.78–$32.47).
• Institutional ownership is very high—about 97%—and several large investors (Vanguard, Ridgemont, Ancora, State Street, Melqart) have recently increased their stakes.

Shares of Forward Air Corporation (NASDAQ:FWRD - Get Free Report) have been given an average rating of "Hold" by the five analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $37.00.

FWRD has been the topic of several research analyst reports. Zacks Research cut Forward Air from a "hold" rating to a "strong sell" rating in a report on Tuesday, January 13th. Stifel Nicolaus upped their price objective on Forward Air from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, January 21st. Susquehanna reissued a "positive" rating and issued a $42.00 target price on shares of Forward Air in a report on Tuesday, February 24th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Forward Air in a research report on Thursday, January 22nd.

Forward Air Stock Performance

Shares of FWRD stock opened at $17.41 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 10.58. The company has a 50 day moving average price of $23.08 and a 200-day moving average price of $23.64. Forward Air has a 52 week low of $9.78 and a 52 week high of $32.47. The firm has a market capitalization of $549.29 million, a PE ratio of -4.95 and a beta of 1.46.

Forward Air (NASDAQ:FWRD - Get Free Report) last issued its earnings results on Monday, February 23rd. The transportation company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Forward Air had a negative return on equity of 42.67% and a negative net margin of 4.32%.The company had revenue of $631.23 million during the quarter, compared to analysts' expectations of $629.60 million. During the same quarter in the prior year, the business posted ($1.23) EPS. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities research analysts expect that Forward Air will post -0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Forward Air by 15.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,353,608 shares of the transportation company's stock worth $60,347,000 after acquiring an additional 307,906 shares during the period. Ridgemont Partners Management LLC lifted its holdings in Forward Air by 0.7% during the third quarter. Ridgemont Partners Management LLC now owns 1,937,405 shares of the transportation company's stock valued at $49,675,000 after purchasing an additional 13,926 shares in the last quarter. Ancora Advisors LLC boosted its position in shares of Forward Air by 8.5% in the third quarter. Ancora Advisors LLC now owns 1,475,055 shares of the transportation company's stock worth $37,820,000 after purchasing an additional 116,012 shares during the period. State Street Corp increased its stake in shares of Forward Air by 2.1% in the fourth quarter. State Street Corp now owns 949,784 shares of the transportation company's stock worth $23,745,000 after purchasing an additional 19,854 shares in the last quarter. Finally, Melqart Asset Management UK Ltd increased its stake in shares of Forward Air by 122.3% in the fourth quarter. Melqart Asset Management UK Ltd now owns 849,876 shares of the transportation company's stock worth $21,247,000 after purchasing an additional 467,482 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

About Forward Air

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.

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