Forward Air (NASDAQ:FWRD) Shares Gap Up – Should You Buy?

Forward Air Corporation (NASDAQ:FWRD) shares gapped up before the market opened on Tuesday . The stock had previously closed at $13.20, but opened at $15.15. Forward Air shares last traded at $15.8680, with a volume of 1,943,234 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FWRD shares. Susquehanna lowered their price target on Forward Air from $42.00 to $18.00 and set a “positive” rating on the stock in a report on Friday, May 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a research note on Friday. Stifel Nicolaus set a $17.00 price target on shares of Forward Air in a report on Friday, May 8th. Finally, Zacks Research raised shares of Forward Air from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.50.

Forward Air Stock Up 19.9%

The stock has a market cap of $500.54 million, a PE ratio of -5.41 and a beta of 1.36. The company has a debt-to-equity ratio of 13.98, a quick ratio of 1.23 and a current ratio of 1.23. The company’s 50-day moving average price is $11.80 and its 200 day moving average price is $19.02.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Thursday, May 7th. The transportation company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.74). The business had revenue of $582.05 million during the quarter, compared to analysts’ expectations of $620.23 million. Forward Air had a negative return on equity of 41.21% and a negative net margin of 3.71%.The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.68) EPS. As a group, analysts forecast that Forward Air Corporation will post -1.08 EPS for the current fiscal year.

Institutional Trading of Forward Air

A number of large investors have recently made changes to their positions in the business. Allied Private Wealth LLC bought a new stake in Forward Air in the second quarter worth about $57,000. Cornerstone Wealth LLC TN purchased a new stake in Forward Air during the first quarter worth $319,000. ADAR1 Capital Management LLC raised its holdings in Forward Air by 193.8% in the first quarter. ADAR1 Capital Management LLC now owns 78,241 shares of the transportation company’s stock worth $1,307,000 after purchasing an additional 51,606 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Forward Air by 25.0% in the first quarter. Quantinno Capital Management LP now owns 20,758 shares of the transportation company’s stock valued at $347,000 after acquiring an additional 4,155 shares in the last quarter. Finally, Entropy Technologies LP grew its stake in Forward Air by 109.5% during the 1st quarter. Entropy Technologies LP now owns 19,680 shares of the transportation company’s stock worth $329,000 after buying an additional 10,287 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

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.