Shares of Forward Air Co. (NASDAQ:FWRD) have been given a consensus rating of “Hold” by the six analysts that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $70.00.
A number of research analysts have weighed in on FWRD shares. Deutsche Bank lifted their price target on shares of Forward Air from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research raised shares of Forward Air from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, BidaskClub raised shares of Forward Air from a “hold” rating to a “buy” rating in a research report on Tuesday, July 30th.
A number of hedge funds have recently made changes to their positions in FWRD. Advisory Services Network LLC lifted its position in shares of Forward Air by 70.8% during the second quarter. Advisory Services Network LLC now owns 683 shares of the transportation company’s stock worth $41,000 after purchasing an additional 283 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Forward Air during the second quarter worth $47,000. Quantamental Technologies LLC lifted its position in shares of Forward Air by 10.7% during the first quarter. Quantamental Technologies LLC now owns 1,991 shares of the transportation company’s stock worth $129,000 after purchasing an additional 193 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Forward Air by 5.0% during the second quarter. Advisor Group Inc. now owns 3,412 shares of the transportation company’s stock worth $201,000 after purchasing an additional 164 shares in the last quarter. Finally, Wesbanco Bank Inc. acquired a new position in shares of Forward Air during the first quarter worth $207,000. 93.95% of the stock is currently owned by hedge funds and other institutional investors.
Forward Air stock traded down $0.66 during trading on Wednesday, reaching $60.00. The company had a trading volume of 31,929 shares, compared to its average volume of 166,305. Forward Air has a 12-month low of $51.54 and a 12-month high of $72.81. The business’s 50 day moving average price is $59.80. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 19.23 and a beta of 1.54. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.29.
Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Thursday, July 25th. The transportation company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.04). The business had revenue of $345.76 million for the quarter, compared to analyst estimates of $348.07 million. Forward Air had a net margin of 6.70% and a return on equity of 17.18%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.82 earnings per share. Equities analysts expect that Forward Air will post 3.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, August 21st. This represents a $0.72 dividend on an annualized basis and a yield of 1.20%. Forward Air’s dividend payout ratio (DPR) is 23.08%.
About Forward Air
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-Than-Truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).
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