Forward Air Co. (NASDAQ:FWRD) Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 25th. The stock was sold at an average price of $75.75, for a total transaction of $227,250.00. Following the transaction, the director now directly owns 20,185 shares in the company, valued at $1,529,013.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
FWRD stock opened at $74.19 on Monday. The company has a market capitalization of $2.04 billion, a P/E ratio of 39.89 and a beta of 1.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.68 and a current ratio of 1.50. Forward Air Co. has a 52-week low of $39.59 and a 52-week high of $78.41. The business has a 50-day simple moving average of $66.87 and a two-hundred day simple moving average of $56.31.
Forward Air (NASDAQ:FWRD) last posted its quarterly earnings results on Tuesday, November 3rd. The transportation company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.17. The company had revenue of $331.99 million during the quarter, compared to the consensus estimate of $327.50 million. Forward Air had a return on equity of 10.39% and a net margin of 3.91%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. As a group, sell-side analysts forecast that Forward Air Co. will post 2.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be issued a $0.21 dividend. The ex-dividend date is Tuesday, November 24th. This represents a $0.84 annualized dividend and a dividend yield of 1.13%. This is a boost from Forward Air’s previous quarterly dividend of $0.18. Forward Air’s dividend payout ratio (DPR) is presently 27.63%.
A number of brokerages recently issued reports on FWRD. BidaskClub raised shares of Forward Air from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. TheStreet upgraded Forward Air from a “c+” rating to a “b” rating in a report on Thursday, September 10th. Raymond James raised their target price on Forward Air from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, November 2nd. Stifel Nicolaus raised their target price on Forward Air from $58.00 to $61.00 and gave the company a “hold” rating in a research note on Monday, November 2nd. Finally, Zacks Investment Research upgraded Forward Air from a “hold” rating to a “strong-buy” rating and set a $72.00 target price for the company in a research note on Friday, October 23rd. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $66.60.
Several large investors have recently added to or reduced their stakes in the business. Paloma Partners Management Co purchased a new stake in shares of Forward Air in the 3rd quarter valued at about $212,000. State of Tennessee Treasury Department raised its holdings in shares of Forward Air by 18.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 18,694 shares of the transportation company’s stock valued at $1,073,000 after buying an additional 2,922 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in shares of Forward Air by 35.1% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,807,376 shares of the transportation company’s stock valued at $103,707,000 after buying an additional 469,298 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Forward Air by 302.4% during the 3rd quarter. Great West Life Assurance Co. Can now owns 138,916 shares of the transportation company’s stock valued at $1,372,000 after buying an additional 104,395 shares in the last quarter. Finally, RBA Wealth Management LLC raised its holdings in shares of Forward Air by 28.1% during the 3rd quarter. RBA Wealth Management LLC now owns 23,690 shares of the transportation company’s stock valued at $1,359,000 after buying an additional 5,197 shares in the last quarter. 95.00% of the stock is currently owned by hedge funds and other institutional investors.
Forward Air Company Profile
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 three segments: Expedited Freight, Intermodal, and Pool Distribution. 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 final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.
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