Shares of Forward Air Corporation (NASDAQ:FWRD - Get Free Report) have received a consensus rating of "Hold" from the five research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $22.50.
A number of equities analysts have recently weighed in on FWRD shares. Zacks Research upgraded Forward Air from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 7th. Stifel Nicolaus boosted their price objective on shares of Forward Air from $19.00 to $27.00 and gave the company a "buy" rating in a report on Thursday. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Forward Air in a research report on Friday, July 17th. Finally, Susquehanna decreased their target price on shares of Forward Air from $42.00 to $18.00 and set a "positive" rating on the stock in a research report on Friday, May 8th.
View Our Latest Stock Report on FWRD
Forward Air Trading Up 15.5%
FWRD opened at $17.80 on Friday. The stock has a market capitalization of $562.84 million, a PE ratio of -2.00 and a beta of 1.36. Forward Air has a one year low of $7.86 and a one year high of $32.00. The company has a debt-to-equity ratio of 13.98, a quick ratio of 1.23 and a current ratio of 1.23. The business's 50 day moving average price is $13.42 and its 200 day moving average price is $17.97.
Forward Air (NASDAQ:FWRD - Get Free Report) last posted its earnings results on Thursday, May 7th. The transportation company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.74). Forward Air had a negative return on equity of 10.88% and a negative net margin of 11.37%.The business had revenue of $582.05 million for the quarter, compared to analyst estimates of $620.23 million. During the same period last year, the business earned ($1.68) EPS. Forward Air's revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts expect that Forward Air will post -1.08 EPS for the current year.
Hedge Funds Weigh In On Forward Air
Several large investors have recently made changes to their positions in the stock. Ancora Advisors LLC boosted its position in shares of Forward Air by 8.5% during the third quarter. Ancora Advisors LLC now owns 1,475,055 shares of the transportation company's stock worth $37,820,000 after buying an additional 116,012 shares during the period. State Street Corp lifted its stake in Forward Air by 2.1% during the 4th quarter. State Street Corp now owns 949,784 shares of the transportation company's stock worth $23,745,000 after acquiring an additional 19,854 shares in the last quarter. Melqart Asset Management UK Ltd lifted its stake in Forward Air by 122.3% during the 4th quarter. Melqart Asset Management UK Ltd now owns 849,876 shares of the transportation company's stock worth $21,247,000 after acquiring an additional 467,482 shares in the last quarter. Cibc World Market Inc. boosted its holdings in Forward Air by 3.8% during the 4th quarter. Cibc World Market Inc. now owns 784,731 shares of the transportation company's stock valued at $19,618,000 after acquiring an additional 28,693 shares during the period. Finally, Bank of America Corp DE grew its position in Forward Air by 24.7% in the 2nd quarter. Bank of America Corp DE now owns 611,316 shares of the transportation company's stock valued at $15,002,000 after acquiring an additional 121,190 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.
Forward Air Company Profile
(
Get Free Report)
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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