Forward Air Corporation (NASDAQ:FWRD) Receives Average Rating of “Hold” from Analysts

Shares of Forward Air Corporation (NASDAQ:FWRD) have been assigned a consensus rating of “Hold” from the five research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $37.00.

A number of brokerages have recently issued reports on FWRD. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a research note on Thursday, January 22nd. Susquehanna reiterated a “positive” rating and set a $42.00 target price on shares of Forward Air in a research report on Tuesday, February 24th. Stifel Nicolaus upped their target price on shares of Forward Air from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Finally, Zacks Research lowered shares of Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th.

Hedge Funds Weigh In On Forward Air

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Forward Air by 15.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,353,608 shares of the transportation company’s stock worth $60,347,000 after buying an additional 307,906 shares during the period. Ridgemont Partners Management LLC grew its position in Forward Air by 0.7% in the third quarter. Ridgemont Partners Management LLC now owns 1,937,405 shares of the transportation company’s stock valued at $49,675,000 after acquiring an additional 13,926 shares during the period. Ancora Advisors LLC grew its position in Forward Air by 8.5% in the third quarter. Ancora Advisors LLC now owns 1,475,055 shares of the transportation company’s stock valued at $37,820,000 after acquiring an additional 116,012 shares during the period. Private Management Group Inc. raised its stake in Forward Air by 8.7% during the second quarter. Private Management Group Inc. now owns 1,046,226 shares of the transportation company’s stock worth $25,674,000 after acquiring an additional 83,600 shares in the last quarter. Finally, State Street Corp raised its stake in Forward Air by 2.1% during the fourth quarter. State Street Corp now owns 949,784 shares of the transportation company’s stock worth $23,745,000 after acquiring an additional 19,854 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Forward Air Stock Performance

FWRD opened at $16.05 on Tuesday. The stock has a market cap of $506.38 million, a PE ratio of -4.56 and a beta of 1.33. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 10.58. Forward Air has a 1 year low of $9.78 and a 1 year high of $32.47. The stock’s 50 day simple moving average is $26.23 and its 200-day simple moving average is $24.87.

Forward Air (NASDAQ:FWRD) last issued its earnings results on Monday, February 23rd. The transportation company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Forward Air had a negative return on equity of 42.67% and a negative net margin of 4.32%.The firm had revenue of $631.23 million during the quarter, compared to the consensus estimate of $629.60 million. During the same period last year, the business earned ($1.23) earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts forecast that Forward Air will post -0.72 EPS for the current year.

About Forward Air

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.