Forward Air Corporation (NASDAQ:FWRD) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Forward Air has a consensus analyst rating of “Hold”, based on five covering brokerages, with one sell, one hold, and three buy ratings. The average 1-year price target is $17.50.
• Recent analyst updates were mixed: Stifel Nicolaus set a $17 target, Zacks upgraded the stock to hold, Susquehanna cut its target from $42 to $18, and Weiss Ratings reiterated a sell.
• The company’s latest quarter showed weaker-than-expected results, with EPS of ($1.09) versus estimates of ($0.35) and revenue of $582.05 million below forecasts. Shares opened at $13.38, well below the recent 52-week high of $32.47.

Forward Air Corporation (NASDAQ:FWRD - Get Free Report) has received a consensus recommendation of "Hold" from the five brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $17.50.

Several brokerages have recently weighed in on FWRD. Stifel Nicolaus set a $17.00 price target on Forward Air in a research note on Friday, May 8th. Zacks Research raised Forward Air from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 7th. Susquehanna reduced their target price on Forward Air from $42.00 to $18.00 and set a "positive" rating on the stock in a report on Friday, May 8th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Forward Air in a research report on Tuesday, April 21st.

Hedge Funds Weigh In On Forward Air

A number of hedge funds have recently bought and sold shares of FWRD. Garton & Associates Financial Advisors LLC acquired a new position in Forward Air in the fourth quarter valued at $36,000. Tower Research Capital LLC TRC grew its holdings in Forward Air by 207.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company's stock worth $64,000 after acquiring an additional 1,753 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Forward Air in the 4th quarter worth about $74,000. Allied Private Wealth LLC bought a new position in shares of Forward Air in the 2nd quarter worth about $57,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Forward Air in the 2nd quarter valued at about $107,000. Institutional investors own 97.03% of the company's stock.

Forward Air Price Performance

Shares of NASDAQ:FWRD opened at $13.38 on Monday. The company has a debt-to-equity ratio of 13.98, a quick ratio of 1.23 and a current ratio of 1.23. Forward Air has a 52 week low of $7.86 and a 52 week high of $32.47. The firm has a market cap of $423.14 million, a PE ratio of -4.57 and a beta of 1.36. The firm's fifty day moving average is $12.11 and its 200-day moving average is $19.54.

Forward Air (NASDAQ:FWRD - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The transportation company reported ($1.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.74). The company had revenue of $582.05 million during the quarter, compared to analyst estimates of $620.23 million. Forward Air had a negative net margin of 3.71% and a negative return on equity of 41.21%. The business's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.68) earnings per share. Sell-side analysts predict that Forward Air will post -1.08 earnings per share for the current year.

Forward Air Company Profile

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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