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Forward Air (NASDAQ:FWRD) Trading Up 6.3% - Should You Buy?

Forward Air logo with Transportation background

Key Points

  • Forward Air's shares rose by 6.3%, closing at $21.25 after trading as high as $21.01, despite a decrease in trading volume.
  • Analysts provided mixed ratings, with three analysts rating it as a Buy, two as Hold, and one as Sell; the consensus price target is $37.75.
  • The company's recent earnings report showed a loss of ($0.41) EPS, missing expectations, with revenue declining by 3.9% year-over-year.
  • Five stocks we like better than Forward Air.

Shares of Forward Air Corporation (NASDAQ:FWRD - Get Free Report) were up 6.3% on Thursday . The stock traded as high as $21.01 and last traded at $21.25. Approximately 419,855 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 661,592 shares. The stock had previously closed at $19.99.

Analysts Set New Price Targets

A number of research firms recently commented on FWRD. Wall Street Zen cut Forward Air from a "hold" rating to a "sell" rating in a research report on Saturday, October 11th. Stifel Nicolaus upped their price objective on Forward Air from $29.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Susquehanna upped their price objective on Forward Air from $40.00 to $43.00 and gave the company a "positive" rating in a research report on Tuesday, August 12th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Forward Air in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $37.75.

Read Our Latest Stock Report on FWRD

Forward Air Price Performance

The company has a debt-to-equity ratio of 7.91, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a 50-day moving average of $27.62 and a 200-day moving average of $23.11. The stock has a market cap of $639.80 million, a PE ratio of -3.47 and a beta of 1.39.

Forward Air (NASDAQ:FWRD - Get Free Report) last released its earnings results on Monday, August 11th. The transportation company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $618.84 million for the quarter, compared to analysts' expectations of $627.98 million. During the same quarter in the prior year, the business posted ($23.29) EPS. The business's revenue for the quarter was down 3.9% compared to the same quarter last year. Research analysts predict that Forward Air Corporation will post -0.72 EPS 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 the company. Nisa Investment Advisors LLC lifted its stake in shares of Forward Air by 26.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,499 shares of the transportation company's stock valued at $61,000 after purchasing an additional 530 shares during the last quarter. Tower Research Capital LLC TRC increased 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 purchasing an additional 1,753 shares during the period. GAMMA Investing LLC increased its holdings in Forward Air by 34.1% during the 2nd quarter. GAMMA Investing LLC now owns 3,105 shares of the transportation company's stock worth $76,000 after purchasing an additional 790 shares during the period. Lazard Asset Management LLC purchased a new position in Forward Air during the 2nd quarter worth $107,000. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in Forward Air by 12.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,725 shares of the transportation company's stock worth $140,000 after purchasing an additional 629 shares during the period. 97.03% of the stock is owned by institutional investors.

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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