Forward Air (NASDAQ:FWRD - Get Free Report) had its price objective boosted by Susquehanna from $40.00 to $43.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "positive" rating on the transportation company's stock. Susquehanna's target price indicates a potential upside of 44.44% from the company's current price.
Several other research firms have also recently weighed in on FWRD. Stifel Nicolaus boosted their price target on shares of Forward Air from $29.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Wall Street Zen upgraded shares of Forward Air from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Forward Air currently has an average rating of "Moderate Buy" and a consensus target price of $37.75.
Read Our Latest Research Report on Forward Air
Forward Air Stock Down 2.4%
Shares of NASDAQ FWRD traded down $0.72 during mid-day trading on Tuesday, reaching $29.77. 434,726 shares of the company's stock traded hands, compared to its average volume of 621,433. The stock has a market cap of $916.62 million, a P/E ratio of -4.97 and a beta of 1.43. The business has a 50-day simple moving average of $26.59 and a 200 day simple moving average of $22.59. Forward Air has a 1-year low of $9.78 and a 1-year high of $40.92. The company has a debt-to-equity ratio of 7.91, a current ratio of 1.20 and a quick ratio of 1.13.
Forward Air (NASDAQ:FWRD - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The transportation company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.24). The business had revenue of $618.84 million for the quarter, compared to analyst estimates of $627.98 million. Forward Air had a negative net margin of 6.86% and a negative return on equity of 40.36%. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($23.29) earnings per share. On average, analysts expect that Forward Air will post -0.72 EPS for the current fiscal year.
Institutional Trading of Forward Air
Hedge funds and other institutional investors have recently bought and sold shares of the company. Littlejohn & Co. LLC increased its holdings in shares of Forward Air by 70.1% in the 1st quarter. Littlejohn & Co. LLC now owns 2,814,401 shares of the transportation company's stock worth $56,541,000 after buying an additional 1,159,747 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Forward Air by 742.9% in the 4th quarter. Point72 Asset Management L.P. now owns 463,600 shares of the transportation company's stock worth $14,951,000 after buying an additional 408,600 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Forward Air by 1,179.7% in the 1st quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company's stock worth $6,451,000 after buying an additional 296,001 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Forward Air in the 4th quarter worth $9,198,000. Finally, Ancora Advisors LLC increased its holdings in shares of Forward Air by 28.9% in the 1st quarter. Ancora Advisors LLC now owns 1,230,390 shares of the transportation company's stock worth $24,719,000 after buying an additional 275,500 shares during the last quarter. Institutional investors own 97.03% of the company's stock.
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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