Insider Selling: Forward Air Corp. EVP Sells 8,300 Shares of Stock (FWRD)
Forward Air Corp. (NASDAQ:FWRD) EVP Matthew J. Jewell sold 8,300 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $46.60, for a total value of $386,780.00. Following the completion of the sale, the executive vice president now directly owns 26,845 shares in the company, valued at approximately $1,250,977. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Forward Air Corp. (NASDAQ:FWRD) traded up 2.18% on Monday, hitting $47.26. The stock had a trading volume of 100,227 shares. Forward Air Corp. has a 1-year low of $36.05 and a 1-year high of $48.93. The stock’s 50-day moving average is $46.72 and its 200-day moving average is $45.12. The company has a market cap of $1.457 billion and a P/E ratio of 25.30.
Forward Air Corp. (NASDAQ:FWRD) last released its earnings data on Tuesday, July 22nd. The company reported $0.55 EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis. 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. Investors 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.
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 equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $50.75.
Forward Air Corporation operates in two segments: Forward Air, Inc (NASDAQ:FWRD) and Forward Air Solutions, Inc (FASI).
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