Forward Air Corp. (NASDAQ:FWRD) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.48-0.52 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.63. The company issued revenue guidance of +/-2% YoY to ~$242-252 million, compared to the consensus revenue estimate of $252.16 million.

A number of research firms have recently issued reports on FWRD. Zacks Investment Research raised shares of Forward Air Corp. from a sell rating to a hold rating in a report on Tuesday, July 26th. Cowen and Company lifted their price objective on shares of Forward Air Corp. from $47.00 to $50.00 and gave the stock an outperform rating in a report on Monday, July 25th. BB&T Corp. downgraded shares of Forward Air Corp. from a buy rating to a hold rating in a report on Tuesday, July 12th. Finally, Royal Bank Of Canada raised shares of Forward Air Corp. from a sector perform rating to an outperform rating and lifted their price objective for the stock from $50.00 to $52.00 in a report on Tuesday, May 24th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Forward Air Corp. currently has a consensus rating of Buy and an average price target of $50.67.

Forward Air Corp. (NASDAQ:FWRD) opened at 45.56 on Tuesday. The company has a 50-day moving average of $46.08 and a 200-day moving average of $45.17. Forward Air Corp. has a 12 month low of $36.00 and a 12 month high of $50.47. The stock has a market cap of $1.38 billion, a PE ratio of 33.52 and a beta of 1.29.

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Forward Air Corp. (NASDAQ:FWRD) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.01. The business had revenue of $238.60 million for the quarter, compared to analysts’ expectations of $247.86 million. Forward Air Corp. had a return on equity of 14.41% and a net margin of 4.32%. On average, equities analysts forecast that Forward Air Corp. will post $2.33 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Monday, August 22nd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. Forward Air Corp.’s payout ratio is 35.56%.

In related news, Chairman Bruce A. Campbell sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $46.50, for a total transaction of $3,720,000.00. Following the sale, the chairman now directly owns 260,137 shares in the company, valued at $12,096,370.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michael P. Mclean sold 14,779 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $46.01, for a total transaction of $679,981.79. Following the sale, the chief accounting officer now owns 32,228 shares in the company, valued at $1,482,810.28. The disclosure for this sale can be found here. Corporate insiders own 3.35% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System raised its position in shares of Forward Air Corp. by 1.3% in the second quarter. Arizona State Retirement System now owns 15,773 shares of the company’s stock valued at $702,000 after buying an additional 200 shares in the last quarter. BlackRock Inc. raised its position in shares of Forward Air Corp. by 13.7% in the second quarter. BlackRock Inc. now owns 2,482 shares of the company’s stock valued at $111,000 after buying an additional 300 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Forward Air Corp. by 5.1% in the second quarter. Thrivent Financial for Lutherans now owns 14,750 shares of the company’s stock valued at $657,000 after buying an additional 720 shares in the last quarter. Rhumbline Advisers raised its position in shares of Forward Air Corp. by 1.2% in the second quarter. Rhumbline Advisers now owns 59,530 shares of the company’s stock valued at $2,651,000 after buying an additional 732 shares in the last quarter. Finally, Teachers Advisors Inc. raised its position in shares of Forward Air Corp. by 1.8% in the second quarter. Teachers Advisors Inc. now owns 47,909 shares of the company’s stock valued at $2,133,000 after buying an additional 867 shares in the last quarter. Institutional investors own 98.42% of the company’s stock.

Forward Air Corp. Company Profile

Forward Air Corporation offers services, which are classified into three segments: Forward Air, Forward Air Solutions (FASI) and Total Quality (TQI). The Company, through its three segments, offers a range of logistic and other services, including expedited full truckload (TLX), pick-up and delivery (Forward Air Complete), pool distribution, temperature-controlled truckload, warehousing, customs brokerage and shipment consolidation and handling.

5 Day Chart for NASDAQ:FWRD

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