Stifel Nicolaus Has Lowered Expectations for Forward Air (NASDAQ:FWRD) Stock Price

Forward Air (NASDAQ:FWRD) had its price target decreased by investment analysts at Stifel Nicolaus from $31.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 56.33% from the company’s current price.

FWRD has been the topic of several other reports. Susquehanna reissued a “positive” rating and set a $42.00 price target on shares of Forward Air in a research note on Tuesday, February 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Forward Air in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded Forward Air from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.00.

Forward Air Stock Performance

Shares of NASDAQ FWRD opened at $19.19 on Thursday. The stock has a market cap of $605.44 million, a price-to-earnings ratio of -5.45 and a beta of 1.46. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 10.58. Forward Air has a 1-year low of $13.61 and a 1-year high of $32.47. The stock’s 50-day moving average is $21.54 and its 200 day moving average is $23.12.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings results on Monday, February 23rd. The transportation company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The business had revenue of $631.23 million for the quarter, compared to the consensus estimate of $629.60 million. Forward Air had a negative net margin of 4.32% and a negative return on equity of 42.67%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.23) earnings per share. On average, sell-side analysts anticipate that Forward Air will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FWRD. Royal Bank of Canada increased its holdings in shares of Forward Air by 1,179.7% in the first quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company’s stock worth $6,451,000 after buying an additional 296,001 shares during the period. AQR Capital Management LLC grew its stake in shares of Forward Air by 7.0% in the first quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock worth $201,000 after purchasing an additional 654 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Forward Air by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock worth $299,000 after purchasing an additional 624 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Forward Air by 64.2% in the first quarter. Intech Investment Management LLC now owns 73,040 shares of the transportation company’s stock worth $1,467,000 after purchasing an additional 28,564 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Forward Air by 6.6% in the second quarter. Prudential Financial Inc. now owns 21,431 shares of the transportation company’s stock worth $526,000 after purchasing an additional 1,323 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Company Profile

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.