Shares of Forward Air Corporation (NASDAQ:FWRD - Get Free Report) traded down 5.6% during mid-day trading on Wednesday . The stock traded as low as $26.63 and last traded at $27.50. 183,400 shares were traded during trading, a decline of 72% from the average session volume of 653,461 shares. The stock had previously closed at $29.12.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Susquehanna lifted their price target on Forward Air from $40.00 to $43.00 and gave the company a "positive" rating in a research report on Tuesday. Stifel Nicolaus raised their price objective on Forward Air from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen raised Forward Air from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $37.75.
View Our Latest Analysis on FWRD
Forward Air Trading Down 1.3%
The firm has a market capitalization of $874.73 million, a P/E ratio of -4.75 and a beta of 1.43. The company has a debt-to-equity ratio of 7.55, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50 day moving average price of $25.91 and a two-hundred day moving average price of $22.60.
Forward Air (NASDAQ:FWRD - Get Free Report) last issued its earnings results on Monday, August 11th. The transportation company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.24). The business had revenue of $618.84 million during the quarter, compared to analyst estimates of $627.98 million. Forward Air had a negative return on equity of 37.98% and a negative net margin of 6.86%. The business's quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned ($23.29) EPS. On average, equities research analysts expect that Forward Air Corporation will post -0.72 EPS for the current fiscal year.
Institutional Trading of Forward Air
Several hedge funds and other institutional investors have recently modified their holdings of FWRD. Wells Fargo & Company MN boosted its position in shares of Forward Air by 10.2% in the fourth quarter. Wells Fargo & Company MN now owns 30,042 shares of the transportation company's stock worth $969,000 after buying an additional 2,773 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Forward Air by 167.4% in the fourth quarter. Russell Investments Group Ltd. now owns 66,665 shares of the transportation company's stock worth $2,150,000 after buying an additional 41,735 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Forward Air in the fourth quarter worth $6,290,000. Raymond James Financial Inc. purchased a new stake in shares of Forward Air during the fourth quarter worth $320,000. Finally, Sterling Capital Management LLC raised its holdings in shares of Forward Air by 812.5% during the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company's stock worth $26,000 after acquiring an additional 715 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.
Forward Air Company Profile
(
Get Free Report)
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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