Forward Air Corporation (NASDAQ:FWRD - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 461,566 shares were traded during trading, a decline of 23% from the previous session's volume of 601,255 shares.The stock last traded at $19.1210 and had previously closed at $22.04.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Susquehanna reiterated a "positive" rating and issued a $42.00 price objective on shares of Forward Air in a report on Tuesday, February 24th. Stifel Nicolaus upped their price target on Forward Air from $30.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, January 21st. Weiss Ratings reiterated a "sell (e+)" rating on shares of Forward Air in a research note on Thursday, January 22nd. Finally, Zacks Research cut shares of Forward Air from a "hold" rating to a "strong sell" rating in a report on Tuesday, January 13th. Three research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Forward Air currently has a consensus rating of "Hold" and a consensus target price of $37.00.
Read Our Latest Analysis on FWRD
Forward Air Trading Down 12.6%
The business has a 50-day moving average of $26.91 and a 200-day moving average of $25.26. The stock has a market capitalization of $601.72 million, a price-to-earnings ratio of -5.46 and a beta of 1.33. The company has a debt-to-equity ratio of 10.58, a quick ratio of 1.20 and a current ratio of 1.22.
Forward Air (NASDAQ:FWRD - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $631.23 million during the quarter, compared to analysts' expectations of $629.60 million. Forward Air had a negative net margin of 4.32% and a negative return on equity of 42.67%. Forward Air's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.23) EPS. As a group, research analysts forecast that Forward Air Corporation will post -0.72 EPS for the current year.
Institutional Trading of Forward Air
Several institutional investors and hedge funds have recently added to or reduced their stakes in FWRD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 valued at $299,000 after purchasing an additional 624 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in Forward Air by 12.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,725 shares of the transportation company's stock worth $140,000 after buying an additional 629 shares in the last quarter. AQR Capital Management LLC grew its holdings 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 acquiring an additional 654 shares during the period. LPL Financial LLC grew its holdings in Forward Air by 1.5% in the fourth quarter. LPL Financial LLC now owns 43,228 shares of the transportation company's stock valued at $1,081,000 after purchasing an additional 655 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Forward Air by 5.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 15,436 shares of the transportation company's stock valued at $379,000 after acquiring an additional 762 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.
About Forward Air
(
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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