Shares of Forward Air Corporation (NASDAQ:FWRD - Get Free Report) have received a consensus rating of "Moderate Buy" from the five brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $37.75.
A number of equities research analysts have recently weighed in on FWRD shares. Susquehanna raised their price objective on shares of Forward Air from $40.00 to $43.00 and gave the company a "positive" rating in a report on Tuesday, August 12th. Stifel Nicolaus lifted their price objective on shares of Forward Air from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen lowered shares of Forward Air from a "hold" rating to a "sell" rating in a research note on Saturday.
Get Our Latest Stock Report on Forward Air
Forward Air Trading Down 3.2%
Shares of Forward Air stock traded down $0.85 during mid-day trading on Tuesday, hitting $25.99. The stock had a trading volume of 1,512,052 shares, compared to its average volume of 495,239. The firm has a 50-day moving average of $29.33 and a two-hundred day moving average of $22.57. Forward Air has a 12-month low of $9.78 and a 12-month high of $40.92. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 7.91. The firm has a market cap of $800.23 million, a P/E ratio of -4.34 and a beta of 1.40.
Forward Air (NASDAQ:FWRD - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The transportation company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.24). Forward Air had a negative return on equity of 40.36% and a negative net margin of 6.86%.The company had revenue of $618.84 million for the quarter, compared to analysts' expectations of $627.98 million. During the same period in the previous year, the business posted ($23.29) EPS. The business's revenue for the quarter was down 3.9% on a year-over-year basis. Sell-side analysts forecast that Forward Air will post -0.72 earnings per share for the current year.
Hedge Funds Weigh In On Forward Air
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FWRD. Byrne Asset Management LLC raised its position in shares of Forward Air by 81.3% in the first quarter. Byrne Asset Management LLC now owns 1,940 shares of the transportation company's stock valued at $39,000 after buying an additional 870 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Forward Air by 26.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,499 shares of the transportation company's stock valued at $61,000 after acquiring an additional 530 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Forward Air by 207.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company's stock worth $64,000 after purchasing an additional 1,753 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Forward Air in the 4th quarter worth about $72,000. Finally, GAMMA Investing LLC increased its holdings in shares of Forward Air by 34.1% in the 2nd quarter. GAMMA Investing LLC now owns 3,105 shares of the transportation company's stock worth $76,000 after acquiring an additional 790 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.
Forward Air Company Profile
(
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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.
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