Forward Air (NASDAQ:FWRD) Hits New 1-Year Low at $22.30

Forward Air Co. (NASDAQ:FWRD - Get Free Report)'s share price hit a new 52-week low on Thursday . The stock traded as low as $22.30 and last traded at $22.62, with a volume of 106566 shares trading hands. The stock had previously closed at $22.65.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wolfe Research lowered Forward Air from a "peer perform" rating to an "underperform" rating and set a $50.00 price objective for the company. in a report on Wednesday, January 10th. StockNews.com lowered Forward Air from a "hold" rating to a "sell" rating in a report on Monday, March 18th. Stifel Nicolaus lowered their price objective on Forward Air from $80.00 to $55.00 and set a "hold" rating for the company in a report on Monday, January 22nd. Benchmark reissued a "hold" rating on shares of Forward Air in a report on Thursday. Finally, Robert W. Baird decreased their target price on Forward Air from $50.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $80.14.

Forward Air Stock Performance

The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 2.38. The company has a 50-day moving average price of $31.96 and a 200-day moving average price of $52.01. The firm has a market capitalization of $599.92 million, a price-to-earnings ratio of 3.54 and a beta of 0.98.

Forward Air (NASDAQ:FWRD - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.16). The business had revenue of $338.43 million for the quarter, compared to analyst estimates of $406.96 million. Forward Air had a return on equity of 15.30% and a net margin of 10.58%. The business's quarterly revenue was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. As a group, equities research analysts forecast that Forward Air Co. will post 0.56 earnings per share for the current year.

Institutional Investors Weigh In On Forward Air

A number of institutional investors have recently added to or reduced their stakes in the company. Cim Investment Management Inc. lifted its position in Forward Air by 3.6% in the first quarter. Cim Investment Management Inc. now owns 3,541 shares of the transportation company's stock worth $382,000 after purchasing an additional 122 shares during the period. Gotham Asset Management LLC increased its holdings in shares of Forward Air by 1.5% in the first quarter. Gotham Asset Management LLC now owns 9,202 shares of the transportation company's stock valued at $992,000 after buying an additional 134 shares in the last quarter. Guggenheim Capital LLC increased its holdings in shares of Forward Air by 7.1% in the second quarter. Guggenheim Capital LLC now owns 2,428 shares of the transportation company's stock valued at $258,000 after buying an additional 161 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Forward Air by 39.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the transportation company's stock valued at $68,000 after buying an additional 185 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Forward Air by 3.9% in the first quarter. US Bancorp DE now owns 5,053 shares of the transportation company's stock valued at $495,000 after buying an additional 192 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.