Forward Air Corporation (NASDAQ:FWRD) Given Consensus Rating of “Hold” by Brokerages

Forward Air Corporation (NASDAQ:FWRD) has earned a consensus rating of “Hold” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $17.50.

Several brokerages have recently commented on FWRD. Susquehanna reduced their target price on Forward Air from $42.00 to $18.00 and set a “positive” rating for the company in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a report on Tuesday, April 21st. Zacks Research raised Forward Air from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Stifel Nicolaus set a $17.00 price objective on Forward Air in a report on Friday, May 8th.

Forward Air Stock Performance

NASDAQ:FWRD opened at $13.38 on Monday. The company has a fifty day moving average of $12.11 and a 200-day moving average of $19.54. The firm has a market capitalization of $423.14 million, a P/E ratio of -4.57 and a beta of 1.36. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 13.98. Forward Air has a twelve month low of $7.86 and a twelve month high of $32.47.

Forward Air (NASDAQ:FWRD) last issued its earnings results on Thursday, May 7th. The transportation company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.74). The company had revenue of $582.05 million for the quarter, compared to the consensus estimate of $620.23 million. Forward Air had a negative return on equity of 41.21% and a negative net margin of 3.71%.The firm’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.68) earnings per share. As a group, sell-side analysts anticipate that Forward Air will post -1.08 EPS for the current year.

Institutional Trading of Forward Air

Hedge funds and other institutional investors have recently bought and sold shares of the business. Melqart Asset Management UK Ltd raised its holdings in Forward Air by 122.3% during the fourth quarter. Melqart Asset Management UK Ltd now owns 849,876 shares of the transportation company’s stock worth $21,247,000 after buying an additional 467,482 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Forward Air by 1,179.7% in the 1st quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company’s stock worth $6,451,000 after acquiring an additional 296,001 shares during the last quarter. Deutsche Bank AG boosted its stake in Forward Air by 780.4% during the 4th quarter. Deutsche Bank AG now owns 281,800 shares of the transportation company’s stock valued at $7,045,000 after purchasing an additional 249,791 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Forward Air during the 1st quarter valued at about $3,535,000. Finally, BNP Paribas Financial Markets increased its holdings in Forward Air by 105.8% during the 4th quarter. BNP Paribas Financial Markets now owns 404,706 shares of the transportation company’s stock worth $10,118,000 after purchasing an additional 208,096 shares in the last quarter. Institutional investors 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.