Insider Selling: Craig A. Drum Unloads 7,557 Shares of Forward Air Corp. Stock (FWRD)
Forward Air Corp. (NASDAQ:FWRD) SVP Craig A. Drum sold 7,557 shares of Forward Air Corp. stock on the open market in a transaction dated Thursday, February 13th. The shares were sold at an average price of $45.12, for a total transaction of $340,971.84. Following the sale, the senior vice president now directly owns 5,764 shares in the company, valued at approximately $260,072. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Forward Air Corp. (NASDAQ:FWRD) opened at 45.23 on Tuesday. Forward Air Corp. has a 52 week low of $35.93 and a 52 week high of $46.66. The stock’s 50-day moving average is $43.85 and its 200-day moving average is $40.8. The company has a market cap of $1.381 billion and a price-to-earnings ratio of 25.55.
Forward Air Corp. (NASDAQ:FWRD) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.50 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.55 by $0.05. The company had revenue of $181.30 million for the quarter, compared to the consensus estimate of $183.45 million. During the same quarter last year, the company posted $0.54 earnings per share. Forward Air Corp.’s revenue was up 16.6% compared to the same quarter last year. Analysts expect that Forward Air Corp. will post $2.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from Forward Air Corp.’s previous quarterly dividend of $0.10.
A number of analysts have recently weighed in on FWRD shares. Analysts at Stephens upgraded shares of Forward Air Corp. from an “equal weight” rating to an “overweight” rating in a research note on Thursday, February 13th. They now have a $55.00 price target on the stock, up previously from $40.00. Analysts at Avondale Partners upgraded shares of Forward Air Corp. from a “market perform” rating to an “outperform” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Forward Air Corp. presently has an average rating of “Hold” and a consensus price target of $43.57.
Forward Air Corporation operates in two segments: Forward Air, Inc (NASDAQ:FWRD) and Forward Air Solutions, Inc (FASI).
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