Forward Air (FWRD) Stock Price, News & Analysis

Company Overview

Forward Air Corporation (NASDAQ: FWRD) is a transportation and logistics company that provides time-definite freight and supply chain services. Its offerings include expedited less-than-truckload transportation, truckload services, intermodal and drayage operations, final-mile delivery, and other logistics solutions designed for shipments requiring reliable transit times.

The company serves businesses across North America and supports domestic and international supply chains through a network of terminals, transportation partners, and logistics facilities. Its customers include manufacturers, retailers, distributors, freight forwarders, and other organizations that move high-value, time-sensitive, or specialized freight.

Forward Air expanded its logistics capabilities through the acquisition of Omni Logistics, which was completed in 2024. The combined business provides a broader range of transportation, freight forwarding, customs, warehousing, and supply chain management services. Forward Air is headquartered in Greeneville, Tennessee, and is led by President and Chief Executive Officer Shawn Stewart.

Key Stats

• Today's Range: $17.78 to $19.09
• 50-Day Range: $14.59 to $18.32
• 52-Week Range: $7.86 to $31.17
• Volume: 386,054 shs
• Average Volume: 366,701 shs
• Market Capitalization: $579.28 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $26.00
• Consensus Rating: Moderate Buy

Forward Air Stock Analysis - MarketRank™

Forward Air scored higher than 71% of companies evaluated by MarketBeat, and ranked 313th out of 656 stocks in the industrials sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 4.2 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Forward Air has received a consensus rating of Moderate Buy. The company's average rating score is 2.80, and is based on 1 strong buy rating, 3 buy ratings, no hold ratings, and 1 sell rating.

Upside Potential

Forward Air has a consensus price target of $26.00, representing about 41.9% upside from its current price of $18.32.

Amount of Analyst Coverage

Forward Air has only been the subject of 4 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 ($2.02) to $0.59 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Forward Air is -2.06, 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 -2.06, 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 3.54. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

6.76% 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 4.65.

Change versus previous month

Short interest in Forward Air has recently decreased by 14.93%, indicating that investor sentiment is improving significantly.

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.

Dividend Sustainability

Based on EPS estimates, Forward Air will have a dividend payout ratio of 162.71% in the coming year. This indicates that Forward Air may not be able to sustain their current dividend.

News and Social Media

• Score: 3.0 / 5
• News Sentiment: 0.80

News Sentiment

Forward Air has a news sentiment score of 0.80. 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 is a higher news sentiment than the 0.58 average news sentiment score of Industrials companies.

News Coverage This Week

MarketBeat has tracked 11 news articles for Forward Air this week, compared to 3 articles on an average week.

Company Ownership

• Score: 1.3 / 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

15.70% 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.

Company Calendar

• Last Earnings: 5/07/2026
• Today: 11/03/2026
• Next Earnings (Estimated): 11/09/2026
• Fiscal Year End: 12/31/2026

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Industrials
• Industry: Air Freight & Logistics
• Sub-Industry: Air Freight & Logistics
• Current Symbol: NASDAQ:FWRD
• CIK: 912728
• Web: www.forwardaircorp.com
• Phone: (423) 636-7000
• Fax: 423-783-9019
• Employees: 6,062
• Year Founded: 1981

Price Target and Rating

• Average Price Target for Forward Air: $26.00
• High Price Target: $27.00
• Low Price Target: $25.00
• Potential Upside/Downside: +41.9%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.80
• Research Coverage: 5 Analysts

Profitability

• EPS (Trailing Twelve Months): ($8.90)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: 31.05
• P/E Growth: N/A
• Net Income: -$107.80 million
• Net Margins: -11.37%
• Pretax Margin: -13.94%
• Return on Equity: -19.49%
• Return on Assets: -0.66%

Debt

• Debt-to-Equity Ratio: 13.98
• Current Ratio: 1.32
• Quick Ratio: 1.32

Sales & Book Value

• Annual Sales: $2.50 billion
• Price / Sales: 0.23
• Cash Flow: $2.25 per share
• Price / Cash Flow: 8.15
• Book Value: $5.17 per share
• Price / Book: 3.54

Miscellaneous

• Outstanding Shares: 31,620,000
• Free Float: 26,660,000
• Market Cap: $579.28 million
• Optionable: Optionable
• Beta: 1.41