Forward Air (NASDAQ:FWRD) Price Target Cut to $14.00

Forward Air (NASDAQ:FWRD - Free Report) had its target price reduced by Robert W. Baird from $24.00 to $14.00 in a research note released on Friday, Benzinga reports. They currently have a neutral rating on the transportation company's stock.

Several other research analysts have also recently commented on FWRD. Benchmark reissued a hold rating on shares of Forward Air in a research note on Wednesday, April 24th. StockNews.com downgraded Forward Air from a hold rating to a sell rating in a research note on Monday, March 18th. Finally, Stifel Nicolaus reduced their target price on Forward Air from $80.00 to $55.00 and set a hold rating for the company in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $76.43.

Forward Air Price Performance

Shares of Forward Air stock traded down $1.32 on Friday, reaching $15.44. The company's stock had a trading volume of 2,218,200 shares, compared to its average volume of 964,780. Forward Air has a 52-week low of $12.85 and a 52-week high of $121.38. The company has a market capitalization of $407.15 million, a P/E ratio of 2.42 and a beta of 1.06. 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 stock has a 50-day moving average price of $26.51 and a 200-day moving average price of $46.71.

Forward Air (NASDAQ:FWRD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The transportation company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.49). Forward Air had a net margin of 10.58% and a return on equity of 15.30%. The company had revenue of $541.81 million for the quarter, compared to analysts' expectations of $644.00 million. During the same period in the previous year, the business earned $1.37 earnings per share. Analysts expect that Forward Air will post 0.56 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FWRD. Private Management Group Inc. bought a new stake in Forward Air during the first quarter valued at $31,007,000. Assenagon Asset Management S.A. raised its holdings in shares of Forward Air by 15,487.6% during the third quarter. Assenagon Asset Management S.A. now owns 726,538 shares of the transportation company's stock valued at $49,942,000 after buying an additional 721,877 shares during the last quarter. Ridgemont Partners Management LLC acquired a new position in shares of Forward Air during the first quarter worth approximately $21,796,000. Norges Bank acquired a new stake in Forward Air in the 4th quarter valued at approximately $43,281,000. Finally, UBS Group AG increased its holdings in shares of Forward Air by 809.8% during the third quarter. UBS Group AG now owns 683,566 shares of the transportation company's stock valued at $46,988,000 after purchasing an additional 608,430 shares during the period. 97.03% of the stock is 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.