Brokerages Set Forward Air Corporation (NASDAQ:FWRD) PT at $37.00

Shares of Forward Air Corporation (NASDAQ:FWRD) have earned an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $37.00.

A number of research analysts recently issued reports on the stock. Zacks Research downgraded shares of Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a research report on Thursday, January 22nd. Stifel Nicolaus boosted their target price on shares of Forward Air from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Finally, 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.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FWRD. Garton & Associates Financial Advisors LLC acquired a new position in Forward Air during the fourth quarter worth $36,000. Tower Research Capital LLC TRC raised its holdings in Forward Air by 207.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock worth $64,000 after buying an additional 1,753 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Forward Air during the fourth quarter worth $74,000. AlphaQuest LLC raised its holdings in Forward Air by 541.5% during the third quarter. AlphaQuest LLC now owns 3,015 shares of the transportation company’s stock worth $77,000 after buying an additional 2,545 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Forward Air during the second quarter worth $107,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Stock Down 0.1%

Forward Air stock opened at $17.39 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 10.58. Forward Air has a 12-month low of $9.78 and a 12-month high of $32.47. The firm’s fifty day moving average is $22.89 and its 200 day moving average is $23.51. The company has a market capitalization of $548.65 million, a PE ratio of -4.94 and a beta of 1.46.

Forward Air (NASDAQ:FWRD) last released its earnings results on Monday, February 23rd. The transportation company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Forward Air had a negative net margin of 4.32% and a negative return on equity of 42.67%. The company had revenue of $631.23 million for the quarter, compared to analyst estimates of $629.60 million. During the same quarter in the previous year, the firm earned ($1.23) EPS. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Forward Air will post -0.72 EPS for the current fiscal year.

Forward Air Company Profile

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.