Forward Air Co. (NASDAQ:FWRD) Receives $80.14 Consensus PT from Analysts

Forward Air Co. (NASDAQ:FWRD) has been given an average recommendation of “Hold” by the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $80.14.

FWRD has been the subject of several recent research reports. Robert W. Baird decreased their price target on Forward Air from $50.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, March 1st. StockNews.com downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a report on Monday, March 18th. Stifel Nicolaus cut their price target on shares of Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. Benchmark reiterated a “hold” rating on shares of Forward Air in a research note on Wednesday, April 24th. Finally, Wolfe Research cut shares of Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a research report on Wednesday, January 10th.

Forward Air Stock Up 2.9 %

Forward Air stock opened at $21.51 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 2.38. The firm’s fifty day moving average price is $26.92 and its two-hundred day moving average price is $46.92. The firm has a market capitalization of $567.22 million, a price-to-earnings ratio of 3.35 and a beta of 1.06. Forward Air has a 1-year low of $20.50 and a 1-year high of $121.38.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Thursday, February 29th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.16). The company had revenue of $338.43 million for the quarter, compared to analyst estimates of $406.96 million. Forward Air had a net margin of 10.58% and a return on equity of 15.30%. Forward Air’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 EPS. On average, equities research analysts predict that Forward Air will post 0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Forward Air

Several large investors have recently modified their holdings of the stock. CWM LLC grew its holdings in Forward Air by 86.9% during the third quarter. CWM LLC now owns 669 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 311 shares during the period. Headlands Technologies LLC bought a new position in shares of Forward Air during the 4th quarter worth $52,000. UMB Bank n.a. increased its holdings in Forward Air by 413.5% in the 1st quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock worth $26,000 after acquiring an additional 674 shares during the last quarter. Signaturefd LLC raised its stake in Forward Air by 306.9% in the 3rd quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock valued at $65,000 after acquiring an additional 715 shares during the period. Finally, TFO Wealth Partners LLC lifted its holdings in Forward Air by 116,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock valued at $73,000 after purchasing an additional 1,162 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Company Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.