Forward Air (FWRD) Stock Price, News & Analysis

Company Overview

Forward Air Corporation (NASDAQ:FWRD) is a leading provider of ground transportation and logistics services focused on time-sensitive surface freight. The company specializes in expedited less-than-truckload (LTL) services, offering next- and second-day delivery solutions through its network of dedicated over-the-road carriers. Forward Air also provides intermodal drayage, cross‐border transportation, and pooling services designed to streamline supply chains for industries requiring rapid and reliable delivery.

In addition to its core expedited LTL operations, Forward Air offers customized port forwarding and consolidation services for both air and ocean freight. By integrating its proprietary technology platform with a vast network of airline and ground partners, the company delivers visibility and control throughout the shipping process. This blend of asset-light brokerage and asset-based drayage capabilities enables Forward Air to serve customers with a diverse range of freight profiles, from high-value electronics to temperature-sensitive goods.

Founded in 1981 and headquartered in Westerville, Ohio, Forward Air has grown to operate in all 48 contiguous U.S. states and across Canada, with key facilities located near major airports, border crossings, and marine ports. The company’s cross-border services facilitate seamless freight movement between the U.S. and Canada, while its intermodal network supports connections to transcontinental rail lines. Over the years, strategic acquisitions and facility expansions have bolstered Forward Air’s presence in high-volume freight corridors.

Forward Air is led by a seasoned management team with deep expertise in transportation and logistics. The company’s executive leadership, headed by President and Chief Executive Officer Robert A. Biesterfeld, oversees operations, sales, technology, and finance. Guided by a Board of Directors experienced in supply chain management, Forward Air continues to invest in advanced tracking systems, facility enhancements, and network optimization to meet evolving customer needs.

Key Stats

• Today's Range: $26.37 to $27.84
• 50-Day Range: $16.51 to $28.56
• 52-Week Range: $9.79 to $40.92
• Volume: 440,998 shs
• Average Volume: 704,662 shs
• Market Capitalization: $823.17 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $34.00
• Consensus Rating: Moderate Buy

Forward Air Stock Analysis - MarketRank™

Forward Air scored higher than 45% of companies evaluated by MarketBeat, and ranked 87th out of 125 stocks in the transportation sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Forward Air has received a consensus rating of Moderate Buy. The company's average rating score is 2.60, and is based on 3 buy ratings, 2 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Forward Air has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Forward Air are expected to grow in the coming year, from ($0.72) to $1.04 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Forward Air is -0.92, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Forward Air is -0.92, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Forward Air has a P/B Ratio of 2.70. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 1.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

19.14% of the float of Forward Air has been sold short.

Short Interest Ratio / Days to Cover

Forward Air has a short interest ratio ("days to cover") of 5.6.

Change versus previous month

Short interest in Forward Air has recently increased by 2.60%, indicating that investor sentiment is decreasing.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Forward Air does not currently pay a dividend.

Dividend Growth

Forward Air does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

19.14% of the float of Forward Air has been sold short.

Short Interest Ratio / Days to Cover

Forward Air has a short interest ratio ("days to cover") of 5.6.

Change versus previous month

Short interest in Forward Air has recently increased by 2.60%, indicating that investor sentiment is decreasing.

News and Social Media

• Score: 2.5 / 5
• News Sentiment: 0.56

News Sentiment

Forward Air has a news sentiment score of 0.56. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Transportation companies.

News Coverage This Week

MarketBeat has tracked 4 news articles for Forward Air this week, compared to 5 articles on an average week.

Search Interest

2 people have searched for FWRD on MarketBeat in the last 30 days. This is an increase of 100% compared to the previous 30 days.

MarketBeat Follows

2 people have added Forward Air to their MarketBeat watchlist in the last 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Forward Air insiders have not sold or bought any company stock.

Percentage Held by Insiders

17.20% of the stock of Forward Air is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

97.03% of the stock of Forward Air is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

FWRD Stock Analysis - Frequently Asked Questions

How have FWRD shares performed this year?

Forward Air's stock was trading at $32.25 at the beginning of the year. Since then, FWRD shares have decreased by 17.5% and is now trading at $26.6060.

How were Forward Air's earnings last quarter?

Forward Air Corporation (NASDAQ:FWRD) announced its quarterly earnings results on Wednesday, August, 7th. The transportation company reported ($23.29) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by $23.11. The firm's revenue for the quarter was up 92.9% compared to the same quarter last year.
Read the conference call transcript.

Does Forward Air have any subsidiaries?

Forward Air subsidiaries include Atlantic Trucking Company, CLP Towne, Central States Logistics, Central States Trucking, Total Quality, Service Express, Pinch Holdings, and more.

Who are Forward Air's major shareholders?

Forward Air's top institutional shareholders include Ridgemont Partners Management LLC (6.32%), State of Alaska Department of Revenue (0.04%), Bfsg LLC (0.03%) and GAMMA Investing LLC (0.01%). Insiders that own company stock include Thomas Schmitt, Michael L Hance, Chris C Ruble, Kyle R Mitchin, Laurie Anne Tucker and Nancee L Ronning.
View institutional ownership trends.

How do I buy shares of Forward Air?

Shares of FWRD stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.

What other stocks do shareholders of Forward Air own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Forward Air investors own include NVIDIA (NVDA), Meta Platforms (META), Advanced Micro Devices (AMD), Broadcom (AVGO), Tesla (TSLA), Netflix (NFLX) and Adobe (ADBE).

Company Calendar

• Last Earnings: 8/07/2024
• Today: 7/21/2025
• Next Earnings (Confirmed): 8/11/2025
• Fiscal Year End: 12/31/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Transportation
• Industry: TRANS - TRUCK
• Sub-Industry: Air Freight & Logistics
• Current Symbol: NASDAQ:FWRD
• CIK: 912728
• Web: www.forwardair.com
• Phone: (423) 636-7000
• Fax: 423-783-9019
• Employees: 6,319
• Year Founded: 1993

Price Target and Rating

• Average Price Target for Forward Air: $34.00
• High Price Target: $47.00
• Low Price Target: $28.00
• Potential Upside/Downside: +26.8%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.60
• Research Coverage: 5 Analysts

Profitability

• EPS (Trailing Twelve Months): ($29.05)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: -$816.97 million
• Net Margins: -31.66%
• Pretax Margin: -46.52%
• Return on Equity: -242.42%
• Return on Assets: -25.08%

Debt

• Debt-to-Equity Ratio: 7.55
• Current Ratio: 1.13
• Quick Ratio: 1.13

Sales & Book Value

• Annual Sales: $2.47 billion
• Price / Sales: 0.33
• Cash Flow: $48.75 per share
• Price / Cash Flow: 0.55
• Book Value: $9.87 per share
• Price / Book: 2.72

Miscellaneous

• Outstanding Shares: 30,420,000
• Free Float: 25,190,000
• Market Cap: $815.56 million
• Optionable: Optionable
• Beta: 1.41