Forward Air Corp. VP Chris Ruble Sells 35,000 Shares (FWRD)
Forward Air Corp. (NASDAQ:FWRD) VP Chris Ruble sold 35,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.52, for a total value of $1,453,200.00. Following the sale, the vice president now directly owns 9,100 shares in the company, valued at approximately $377,832. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Forward Air Corp. (NASDAQ:FWRD) traded down 0.14% during mid-day trading on Monday, hitting $41.48. The stock had a trading volume of 67,019 shares. Forward Air Corp. has a one year low of $29.65 and a one year high of $41.94. The stock has a 50-day moving average of $37.17 and a 200-day moving average of $37.84. The company has a market cap of $1.260 billion and a P/E ratio of 22.99.
Forward Air Corp. (NASDAQ:FWRD) last released its earnings data on Tuesday, October 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $170.00 million for the quarter, compared to the consensus estimate of $162.10 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, analysts predict that Forward Air Corp. will post $1.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 9th. Shareholders of record on Saturday, November 23rd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Wednesday, November 20th.
Several analysts have recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Forward Air Corp. from $43.00 to $49.00 in a research note to investors on Wednesday, October 23rd. They now have an “outperform” rating on the stock. Analysts at Cowen and Company raised their price target on shares of Forward Air Corp. from $38.00 to $41.00 in a research note to investors on Wednesday, October 23rd. They now have a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $41.28.
Forward Air Corporation operates in two segments: Forward Air, Inc (NASDAQ:FWRD) and Forward Air Solutions, Inc (FASI).
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