Forward Air (NASDAQ:FWRD)‘s stock had its “buy” rating restated by equities research analysts at Stephens in a note issued to investors on Wednesday. They currently have a $80.00 target price on the transportation company’s stock. Stephens’ target price would suggest a potential upside of 34.54% from the company’s current price.

Several other equities research analysts have also recently weighed in on FWRD. Zacks Investment Research raised Forward Air from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Tuesday. Robert W. Baird reissued a “hold” rating and issued a $60.00 target price on shares of Forward Air in a report on Friday, October 6th. BidaskClub raised Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. KeyCorp reissued a “hold” rating on shares of Forward Air in a report on Friday, September 22nd. Finally, Stifel Nicolaus boosted their target price on Forward Air from $47.00 to $52.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $62.60.

Forward Air (NASDAQ FWRD) opened at $59.46 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.71. Forward Air has a 12 month low of $45.86 and a 12 month high of $60.68. The stock has a market capitalization of $1,730.36, a P/E ratio of 27.92 and a beta of 1.18.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.58 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. The company had revenue of $280.20 million for the quarter, compared to analysts’ expectations of $278.75 million. Forward Air had a return on equity of 13.76% and a net margin of 6.10%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. sell-side analysts anticipate that Forward Air will post 2.33 EPS for the current fiscal year.

In other Forward Air news, Director George M. Lynch sold 1,640 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $57.00, for a total value of $93,480.00. Following the completion of the sale, the director now owns 12,383 shares in the company, valued at $705,831. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Chris C. Ruble sold 23,020 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $57.75, for a total value of $1,329,405.00. Following the sale, the insider now owns 28,279 shares of the company’s stock, valued at approximately $1,633,112.25. The disclosure for this sale can be found here. In the last three months, insiders sold 93,549 shares of company stock worth $5,250,836. 2.40% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Forward Air by 157,904.2% during 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 during the last quarter. Vanguard Group Inc. boosted its stake in Forward Air by 0.6% during 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 during the last quarter. BlackRock Fund Advisors lifted its stake in shares of Forward Air by 6.6% in the 3rd quarter. BlackRock Fund Advisors now owns 2,053,488 shares of the transportation company’s stock valued at $88,834,000 after purchasing an additional 127,066 shares during the last quarter. Arrowpoint Asset Management LLC lifted its stake in shares of Forward Air by 16.4% in the 4th quarter. Arrowpoint Asset Management LLC now owns 1,937,340 shares of the transportation company’s stock valued at $91,791,000 after purchasing an additional 272,881 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Forward Air by 12.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,255,469 shares of the transportation company’s stock valued at $71,850,000 after purchasing an additional 139,363 shares during the last quarter. Hedge funds and other institutional investors own 95.70% of the company’s stock.

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About Forward Air

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 (NASDAQ:FWRD)

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