Forward Air Corporation (NASDAQ:FWRD) Receives $37.75 Consensus PT from Analysts

Forward Air Corporation (NASDAQ:FWRD) has been given an average recommendation of “Hold” by the five analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given 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 $33.6667.

A number of analysts have recently issued reports on FWRD shares. Stifel Nicolaus decreased their target price on Forward Air from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a report on Wednesday, October 8th. Wall Street Zen cut Forward Air from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Finally, Susquehanna boosted their price target on Forward Air from $40.00 to $43.00 and gave the stock a “positive” rating in a research report on Tuesday, August 12th.

Hedge Funds Weigh In On Forward Air

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank lifted its position in Forward Air by 8.5% during the 2nd quarter. Amalgamated Bank now owns 6,174 shares of the transportation company’s stock worth $152,000 after acquiring an additional 484 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Forward Air by 26.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,499 shares of the transportation company’s stock worth $61,000 after acquiring an additional 530 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Forward Air by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock worth $299,000 after acquiring an additional 624 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its holdings in Forward Air by 12.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,725 shares of the transportation company’s stock worth $140,000 after purchasing an additional 629 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Forward Air by 7.0% in the 1st quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock valued at $201,000 after purchasing an additional 654 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Forward Air Stock Down 3.3%

Shares of NASDAQ:FWRD opened at $20.14 on Friday. The company has a debt-to-equity ratio of 7.91, a quick ratio of 1.20 and a current ratio of 1.20. Forward Air has a 1 year low of $9.78 and a 1 year high of $40.92. The stock has a market capitalization of $620.11 million, a P/E ratio of -3.36 and a beta of 1.39. The stock has a 50-day simple moving average of $27.24 and a 200-day simple moving average of $23.12.

Forward Air (NASDAQ:FWRD) last issued its earnings results on Monday, August 11th. The transportation company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.24). Forward Air had a negative return on equity of 40.36% and a negative net margin of 6.86%.The firm had revenue of $618.84 million for the quarter, compared to analysts’ expectations of $627.98 million. During the same quarter in the previous year, the firm posted ($23.29) EPS. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities analysts forecast that Forward Air will post -0.72 earnings per share for the current year.

Forward Air Company Profile

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.