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 final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling. This segment also offers expedited truckload brokerage, dedicated fleet, and high security and temperature-controlled logistics services. The Intermodal segment provides intermodal container drayage services; and contract, and container freight station warehouse and handling services. It serves freight forwarders, third-party logistics companies, integrated air cargo carriers and passenger, passenger and cargo airlines, steamship lines, and retailers. Forward Air Corporation was founded in 1981 and is headquartered in Greeneville, Tennessee.
Analyst Upgrades and Downgrades
FWRD has been the subject of several research reports. Benchmark started coverage on shares of Forward Air in a research report on Tuesday, July 19th. They issued a "hold" rating for the company. Susquehanna Bancshares lowered their price target on Forward Air from $143.00 to $133.00 in a report on Friday, April 29th. Raymond James decreased their price objective on Forward Air from $145.00 to $135.00 in a research report on Friday, July 15th. Susquehanna dropped their target price on Forward Air from $143.00 to $133.00 in a report on Friday, April 29th. Finally, Stifel Nicolaus raised Forward Air from a "hold" rating to a "buy" rating and increased their price target for the stock from $122.00 to $136.00 in a report on Thursday, April 28th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $137.83.
Forward Air Price Performance
Forward Air stock opened at $108.07 on Friday. The company has a market cap of $2.90 billion, a P/E ratio of 18.16 and a beta of 1.13. Forward Air has a one year low of $80.56 and a one year high of $125.71. The business has a fifty day moving average of $94.96 and a two-hundred day moving average of $96.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.73 and a current ratio of 1.89.
Forward Air (NASDAQ:FWRD - Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The transportation company reported $2.04 EPS for the quarter, beating the consensus estimate of $2.02 by $0.02. Forward Air had a net margin of 8.71% and a return on equity of 27.62%. The firm had revenue of $515.22 million during the quarter, compared to analysts' expectations of $515.72 million. During the same quarter last year, the business earned $1.11 earnings per share. The business's revenue for the quarter was up 22.5% compared to the same quarter last year. As a group, analysts predict that Forward Air will post 7.06 earnings per share for the current fiscal year.
Forward Air Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, August 17th. Forward Air's dividend payout ratio (DPR) is 16.13%.