Forward Air Co. (NASDAQ:FWRD) Receives $76.43 Consensus PT from Brokerages

Shares of Forward Air Co. (NASDAQ:FWRDGet Free Report) have earned an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $76.43.

Several analysts recently commented on FWRD shares. downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a report on Monday, March 18th. Robert W. Baird dropped their price target on Forward Air from $24.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a report on Wednesday, April 24th. Finally, Wolfe Research upgraded shares of Forward Air from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, May 28th.

Check Out Our Latest Report on Forward Air

Forward Air Trading Up 8.4 %

NASDAQ:FWRD opened at $18.67 on Wednesday. The company has a market cap of $493.63 million, a P/E ratio of 5.46 and a beta of 0.99. Forward Air has a twelve month low of $11.21 and a twelve month high of $121.38. The business has a 50 day moving average price of $21.44 and a two-hundred day moving average price of $40.08. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.27.

Forward Air (NASDAQ:FWRDGet Free Report) last announced its earnings results on Wednesday, May 8th. The transportation company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.49). Forward Air had a return on equity of 5.37% and a net margin of 4.08%. The business had revenue of $541.81 million for the quarter, compared to analyst estimates of $644.00 million. During the same quarter in the previous year, the company posted $1.37 EPS. As a group, analysts expect that Forward Air will post -0.46 EPS for the current fiscal year.

Institutional Trading of Forward Air

Hedge funds have recently made changes to their positions in the company. Sona Asset Management US LLC bought a new position in Forward Air in the 1st quarter valued at approximately $2,178,000. Tidal Investments LLC increased its position in Forward Air by 103.9% in the 1st quarter. Tidal Investments LLC now owns 21,347 shares of the transportation company’s stock valued at $664,000 after acquiring an additional 10,877 shares during the period. Caxton Associates LP acquired a new position in shares of Forward Air during the first quarter worth $236,000. Price T Rowe Associates Inc. MD grew its stake in shares of Forward Air by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,604 shares of the transportation company’s stock worth $641,000 after purchasing an additional 5,427 shares during the last quarter. Finally, Quadrature Capital Ltd increased its holdings in Forward Air by 22.4% in the first quarter. Quadrature Capital Ltd now owns 73,193 shares of the transportation company’s stock valued at $2,276,000 after purchasing an additional 13,385 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

About Forward Air

(Get Free Report

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.

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Analyst Recommendations for Forward Air (NASDAQ:FWRD)

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