Forward Air (NASDAQ:FWRD) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded Forward Air from “sell” to “hold,” while MarketBeat’s consensus rating remains “Moderate Buy” with an average price target of $22.50.
• Analyst sentiment is mixed: Stifel raised its target to $27 and issued a “buy” rating, while Susquehanna cut its target to $18; other firms also made divergent rating changes.
• Forward Air reported weaker-than-expected quarterly results, with an adjusted loss of $1.09 per share versus the $0.35 consensus loss estimate and revenue down 5.1% year over year to $582.05 million.

Forward Air (NASDAQ:FWRD - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

A number of other brokerages also recently commented on FWRD. Stifel Nicolaus increased their price objective on shares of Forward Air from $19.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday. Zacks Research raised shares of Forward Air from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Susquehanna lowered their target price on shares of Forward Air from $42.00 to $18.00 and set a "positive" rating for the company in a research note on Friday, May 8th. Finally, Weiss Ratings raised Forward Air from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $22.50.

Forward Air Stock Performance

Shares of Forward Air stock opened at $19.35 on Friday. The business has a 50-day simple moving average of $13.60 and a 200-day simple moving average of $17.98. The company has a debt-to-equity ratio of 13.98, a quick ratio of 1.23 and a current ratio of 1.32. Forward Air has a one year low of $7.86 and a one year high of $32.00. The company has a market cap of $611.85 million, a PE ratio of -2.17 and a beta of 1.36.

Forward Air (NASDAQ:FWRD - Get Free Report) last issued its earnings results on Thursday, May 7th. The transportation company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.74). Forward Air had a negative net margin of 11.37% and a negative return on equity of 19.49%. The firm had revenue of $582.05 million during the quarter, compared to analyst estimates of $620.23 million. During the same period last year, the business earned ($1.68) EPS. The firm's revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts forecast that Forward Air will post -1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Forward Air

Several hedge funds have recently added to or reduced their stakes in FWRD. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Forward Air during the 4th quarter worth approximately $36,000. Allied Private Wealth LLC purchased a new position in shares of Forward Air in the 2nd quarter valued at $57,000. Tower Research Capital LLC TRC grew its position in shares of Forward Air by 207.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company's stock valued at $64,000 after buying an additional 1,753 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Forward Air in the 4th quarter valued at $74,000. Finally, Fifth Third Bancorp raised its stake in Forward Air by 2,397.7% during the 1st quarter. Fifth Third Bancorp now owns 5,495 shares of the transportation company's stock worth $92,000 after acquiring an additional 5,275 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

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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