Insider Selling: Forward Air Corp. CAO Sells 13,125 Shares of Stock (FWRD)
Forward Air Corp. (NASDAQ:FWRD) CAO Michael P. Mclean sold 13,125 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $46.50, for a total transaction of $610,312.50. Following the sale, the chief accounting officer now directly owns 12,949 shares of the company’s stock, valued at approximately $602,129. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Separately, analysts at Robert W. Baird raised their price target on shares of Forward Air Corp. from $51.00 to $52.00 in a research note on Tuesday, July 8th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $50.75.
Forward Air Corp. (NASDAQ:FWRD) opened at 46.25 on Monday. Forward Air Corp. has a 1-year low of $36.05 and a 1-year high of $48.93. The stock has a 50-day moving average of $46.71 and a 200-day moving average of $45.1. The company has a market cap of $1.426 billion and a price-to-earnings ratio of 25.30.
Forward Air Corp. (NASDAQ:FWRD) last released its earnings data on Tuesday, July 22nd. The company reported $0.55 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.55. The company had revenue of $193.90 million for the quarter, compared to the consensus estimate of $197.42 million. During the same quarter last year, the company posted $0.45 earnings per share. Forward Air Corp.’s revenue was up 21.3% compared to the same quarter last year. Analysts expect that Forward Air Corp. will post $2.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 5th. Stockholders of record on Thursday, August 21st will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Tuesday, August 19th.
Forward Air Corporation operates in two segments: Forward Air, Inc (NASDAQ:FWRD) and Forward Air Solutions, Inc (FASI).
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