Shares of Forward Air Corporation (NASDAQ:FWRD) have earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $49.00.

Several research firms have recently weighed in on FWRD. BidaskClub raised Forward Air Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Stifel Nicolaus increased their price objective on Forward Air Corporation from $46.00 to $47.00 and gave the company a “hold” rating in a report on Friday, April 28th. Zacks Investment Research downgraded Forward Air Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Wolfe Research downgraded Forward Air Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 1st. Finally, Cowen and Company reissued a “hold” rating and issued a $51.00 price objective on shares of Forward Air Corporation in a report on Thursday.

In related news, Chairman Bruce A. Campbell sold 20,529 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $51.64, for a total transaction of $1,060,117.56. Following the completion of the sale, the chairman now directly owns 203,235 shares of the company’s stock, valued at $10,495,055.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director C Robert Campbell sold 1,718 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $52.99, for a total value of $91,036.82. Following the sale, the director now directly owns 19,652 shares of the company’s stock, valued at $1,041,359.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,295 shares of company stock valued at $2,861,066. Corporate insiders own 2.40% of the company’s stock.

Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Forward Air Corporation by 157,904.2% in the first quarter. BlackRock Inc. now owns 3,803,161 shares of the transportation company’s stock valued at $180,917,000 after buying an additional 3,800,754 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Forward Air Corporation by 0.6% in the second quarter. Vanguard Group Inc. now owns 2,694,979 shares of the transportation company’s stock valued at $143,589,000 after buying an additional 16,137 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Forward Air Corporation by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,210,821 shares of the transportation company’s stock valued at $64,513,000 after buying an additional 6,419 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Forward Air Corporation by 2.5% in the first quarter. Victory Capital Management Inc. now owns 1,120,726 shares of the transportation company’s stock valued at $53,313,000 after buying an additional 26,978 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Forward Air Corporation by 0.6% in the first quarter. Wellington Management Group LLP now owns 1,085,179 shares of the transportation company’s stock valued at $51,621,000 after buying an additional 6,690 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Shares of Forward Air Corporation (FWRD) traded up 0.08% during mid-day trading on Friday, reaching $50.88. 114,317 shares of the company’s stock traded hands. The firm’s 50-day moving average is $52.74 and its 200 day moving average is $50.49. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 26.61 and a beta of 1.06. Forward Air Corporation has a one year low of $40.07 and a one year high of $56.52.

Forward Air Corporation (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.06. The business had revenue of $267.50 million during the quarter, compared to the consensus estimate of $256.98 million. Forward Air Corporation had a return on equity of 13.31% and a net margin of 5.68%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share. Analysts predict that Forward Air Corporation will post $2.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, August 23rd. Forward Air Corporation’s dividend payout ratio is presently 31.25%.

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About Forward Air Corporation

Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.

Analyst Recommendations for Forward Air Corporation (NASDAQ:FWRD)

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