Insider Selling: Matthew J. Jewell Unloads 10,400 Shares of Forward Air Corp. Stock (FWRD)
Forward Air Corp. (NASDAQ:FWRD) VP Matthew J. Jewell unloaded 10,400 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $45.00, for a total value of $468,000.00. Following the transaction, the vice president now directly owns 21,851 shares in the company, valued at approximately $983,295. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $43.57.
Shares of Forward Air Corp. (NASDAQ:FWRD) opened at 45.23 on Tuesday. Forward Air Corp. has a one year low of $35.93 and a one year 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 (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. 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.
Forward Air Corporation operates in two segments: Forward Air, Inc (NASDAQ:FWRD) and Forward Air Solutions, Inc (FASI).
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