Forward Air's (FWRD) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• Forward Air's stock rating has been restated as "sell (e+)" by Weiss Ratings, reflecting ongoing concerns about the company's performance.
• Analysts have mixed opinions on Forward Air, with Stifel Nicolaus increasing their price target for the stock to $33, while the overall consensus remains a "Hold" with a target price of $37.75.
• The company reported a significant earnings miss for the latest quarter, with EPS at ($0.41), notably lower than analysts' expectations of ($0.17).

Forward Air (NASDAQ:FWRD - Get Free Report)'s stock had its "sell (e+)" rating restated by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other analysts have also recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Forward Air from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Susquehanna boosted their price objective on shares of Forward Air from $40.00 to $43.00 and gave the stock a "positive" rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen raised shares of Forward Air from a "sell" rating to a "hold" rating in a research note on Friday, October 3rd. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $37.75.

Forward Air Stock Performance

NASDAQ FWRD opened at $24.38 on Wednesday. The firm's fifty day moving average price is $28.42 and its two-hundred day moving average price is $23.08. The stock has a market cap of $750.66 million, a PE ratio of -4.07 and a beta of 1.39. Forward Air has a fifty-two week low of $9.78 and a fifty-two week high of $40.92. The company has a debt-to-equity ratio of 7.91, a quick ratio of 1.20 and a current ratio of 1.20.

Forward Air (NASDAQ:FWRD - Get Free Report) last posted its earnings results 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 the consensus estimate of $627.98 million. During the same period in the previous year, the firm posted ($23.29) EPS. The business's quarterly revenue was down 3.9% compared to the same quarter last year. On average, equities analysts expect that Forward Air will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Forward Air

Institutional investors have recently made changes to their positions in the stock. Amalgamated Bank increased its stake in Forward Air by 8.5% in the 2nd quarter. Amalgamated Bank now owns 6,174 shares of the transportation company's stock valued at $152,000 after buying an additional 484 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Forward Air by 26.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,499 shares of the transportation company's stock worth $61,000 after buying an additional 530 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 worth $299,000 after buying an additional 624 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in Forward Air by 12.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,725 shares of the transportation company's stock valued at $140,000 after purchasing an additional 629 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Forward Air by 7.0% in the 1st quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company's stock valued at $201,000 after purchasing an additional 654 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Forward Air Company Profile

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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