Insider Selling: Forward Air Corp. EVP Unloads 8,300 Shares of Stock (FWRD)
Forward Air Corp. (NASDAQ:FWRD) EVP Matthew J. Jewell sold 8,300 shares of Forward Air Corp. stock on the open market in a transaction dated Friday, August 15th. The stock was sold at an average price of $46.60, for a total transaction of $386,780.00. Following the completion of the transaction, the executive vice president now directly owns 26,845 shares of the company’s stock, valued at approximately $1,250,977. The sale was disclosed in a filing with the SEC, which can be accessed through 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 investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $50.75.
Shares of Forward Air Corp. (NASDAQ:FWRD) traded down 0.49% on Wednesday, hitting $46.83. The stock had a trading volume of 25,727 shares. Forward Air Corp. has a 52 week low of $36.34 and a 52 week high of $48.93. The stock has a 50-day moving average of $46.69 and a 200-day moving average of $45.1. The company has a market cap of $1.444 billion and a P/E ratio of 25.74.
Forward Air Corp. (NASDAQ:FWRD) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter 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. 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 1.02%. The ex-dividend date of this dividend 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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