Forward Air (NASDAQ:FWRD) Trading Down 15.6% – Time to Sell?

Forward Air Corporation (NASDAQ:FWRD) shares dropped 15.6% during mid-day trading on Monday . The company traded as low as $18.50 and last traded at $17.9930. Approximately 175,296 shares changed hands during trading, a decline of 73% from the average daily volume of 647,343 shares. The stock had previously closed at $21.33.

Analyst Ratings Changes

FWRD has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a research report on Tuesday, April 21st. Zacks Research downgraded Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Susquehanna reiterated a “positive” rating and set a $42.00 price target on shares of Forward Air in a research report on Tuesday, February 24th. Finally, Stifel Nicolaus dropped their price target on Forward Air from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.00.

Forward Air Stock Up 7.8%

The stock has a 50-day moving average of $19.88 and a two-hundred day moving average of $22.97. The company has a market cap of $595.78 million, a P/E ratio of -5.22 and a beta of 1.59. The company has a debt-to-equity ratio of 10.58, a quick ratio of 1.22 and a current ratio of 1.22.

Forward Air (NASDAQ:FWRD) last released its earnings results on Monday, February 23rd. The transportation company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The firm had revenue of $631.23 million during the quarter, compared to the consensus estimate of $629.60 million. Forward Air had a negative return on equity of 42.67% and a negative net margin of 4.32%.The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.23) EPS. On average, research analysts anticipate that Forward Air Corporation will post -0.47 EPS for the current fiscal year.

Institutional Trading of Forward Air

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Forward Air by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock worth $299,000 after buying an additional 624 shares during the last quarter. AQR Capital Management LLC lifted its position in Forward Air by 7.0% in the 1st quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock worth $201,000 after buying an additional 654 shares during the last quarter. LPL Financial LLC lifted its position in Forward Air by 1.5% in the 4th quarter. LPL Financial LLC now owns 43,228 shares of the transportation company’s stock worth $1,081,000 after buying an additional 655 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Forward Air by 5.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 15,436 shares of the transportation company’s stock worth $379,000 after buying an additional 762 shares during the last quarter. Finally, Logan Capital Management Inc. lifted its position in Forward Air by 11.7% in the 3rd quarter. Logan Capital Management Inc. now owns 7,575 shares of the transportation company’s stock worth $194,000 after buying an additional 791 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

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.