Insider Selling: Bruce A. Campbell Sells 10,000 Shares of Forward Air Corp. Stock (FWRD)
Forward Air Corp. (NASDAQ:FWRD) CEO Bruce A. Campbell sold 10,000 shares of Forward Air Corp. stock on the open market in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $44.50, for a total transaction of $445,000.00. Following the transaction, the chief executive officer now directly owns 145,397 shares of the company’s stock, valued at approximately $6,470,167. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Forward Air Corp. (NASDAQ:FWRD) traded up 0.36% on Friday, hitting $44.77. The stock had a trading volume of 54,119 shares. Forward Air Corp. has a 52-week low of $36.05 and a 52-week high of $47.10. The stock’s 50-day moving average is $44.21 and its 200-day moving average is $43.91. The company has a market cap of $1.397 billion and a price-to-earnings ratio of 25.68.
Forward Air Corp. (NASDAQ:FWRD) last released its earnings data on Monday, April 21st. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.05. The company had revenue of $171.60 million for the quarter, compared to the consensus estimate of $171.66 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, analysts predict that Forward Air Corp. will post $2.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Wednesday, May 21st.
Separately, analysts at RBC Capital raised their price target on shares of Forward Air Corp. from $49.00 to $55.00 in a research note on Monday, March 24th. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $46.60.
Forward Air Corporation operates in two segments: Forward Air, Inc (NASDAQ:FWRD) and Forward Air Solutions, Inc (FASI).
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