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

Key Points

• "Hold" consensus from five analysts (2 sell, 3 buy) with an average 12‑month price target of $36.00.
• Institutional investors own 97.03% of the stock; Royal Bank of Canada notably increased its stake by 1,179.7% to 321,092 shares (~$6.45M) while several other funds also raised positions.
• Shares opened at $22.41 (market cap ~$707M); Forward Air reported negative EPS (Q: -$0.28 vs. -$0.27 est.), a negative PE of -6.37, and analysts forecast roughly -0.47 EPS for the year.

Forward Air Corporation (NASDAQ:FWRD - Get Free Report) has earned a consensus rating of "Hold" from the five analysts that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $36.00.

A number of equities research analysts have weighed in on FWRD shares. Susquehanna reissued a "positive" rating and set a $42.00 target price on shares of Forward Air in a report on Tuesday, February 24th. Weiss Ratings reissued a "sell (e+)" rating on shares of Forward Air in a report on Tuesday, April 21st. Zacks Research downgraded shares of Forward Air from a "hold" rating to a "strong sell" rating in a research report on Tuesday, January 13th. Finally, Stifel Nicolaus dropped their price target on shares of Forward Air from $31.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, April 16th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FWRD. Royal Bank of Canada lifted its position in shares of Forward Air by 1,179.7% in the 1st quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company's stock worth $6,451,000 after purchasing an additional 296,001 shares during the period. AQR Capital Management LLC lifted its position in shares of Forward Air by 7.0% in the 1st quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company's stock worth $201,000 after purchasing an additional 654 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Forward Air by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company's stock worth $299,000 after purchasing an additional 624 shares during the period. Intech Investment Management LLC lifted its position in shares of Forward Air by 64.2% in the 1st quarter. Intech Investment Management LLC now owns 73,040 shares of the transportation company's stock worth $1,467,000 after purchasing an additional 28,564 shares during the period. Finally, Prudential Financial Inc. lifted its position in shares of Forward Air by 6.6% during the 2nd quarter. Prudential Financial Inc. now owns 21,431 shares of the transportation company's stock valued at $526,000 after acquiring an additional 1,323 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Forward Air Trading Down 1.9%

Shares of Forward Air stock opened at $22.41 on Wednesday. The firm has a market capitalization of $707.04 million, a PE ratio of -6.37 and a beta of 1.46. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 10.58. The firm's 50 day moving average is $20.49 and its 200 day moving average is $23.01. Forward Air has a 1 year low of $13.61 and a 1 year high of $32.47.

Forward Air (NASDAQ:FWRD - Get Free Report) last posted its earnings results on Monday, February 23rd. The transportation company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $631.23 million for the quarter, compared to the consensus estimate of $629.60 million. During the same period in the previous year, the firm earned ($1.23) earnings per share. The company's revenue was up 1.2% compared to the same quarter last year. Equities research analysts forecast that Forward Air will post -0.47 earnings per share for the current fiscal year.

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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