Forward Air (NASDAQ:FWRD) Sees Unusually-High Trading Volume – Should You Buy?

Forward Air Corporation (NASDAQ:FWRD) shares saw unusually-strong trading volume on Wednesday . Approximately 461,566 shares were traded during mid-day trading, a decline of 23% from the previous session’s volume of 601,255 shares.The stock last traded at $19.1210 and had previously closed at $22.04.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stifel Nicolaus increased their target price on Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a research note on Thursday, January 22nd. Susquehanna reissued a “positive” rating and set a $42.00 price target on shares of Forward Air in a research report on Tuesday, February 24th. Finally, Zacks Research lowered shares of Forward Air from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Three research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.00.

Forward Air Stock Performance

The stock has a market capitalization of $518.56 million, a PE ratio of -4.72 and a beta of 1.33. The company has a quick ratio of 1.20, a current ratio of 1.22 and a debt-to-equity ratio of 10.58. The stock has a fifty day moving average of $26.61 and a 200-day moving average of $25.15.

Forward Air (NASDAQ:FWRD) last posted its quarterly 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 during the quarter, compared to analyst estimates of $629.60 million. During the same period in the prior year, the business earned ($1.23) EPS. Forward Air’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts anticipate that Forward Air Corporation will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FWRD. Invesco Ltd. increased its position in shares of Forward Air by 20.8% in the 4th quarter. Invesco Ltd. now owns 268,960 shares of the transportation company’s stock valued at $6,724,000 after purchasing an additional 46,240 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Forward Air during the 4th quarter worth $36,000. SummitTX Capital L.P. acquired a new position in shares of Forward Air during the fourth quarter worth $4,030,000. One68 Global Capital LLC acquired a new position in shares of Forward Air during the fourth quarter worth $225,000. Finally, Inspire Investing LLC increased its holdings in Forward Air by 6.0% in the fourth quarter. Inspire Investing LLC now owns 18,636 shares of the transportation company’s stock valued at $466,000 after buying an additional 1,055 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

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.