Forward Air (FWRD) PT Set at $74.00 by Stephens

Forward Air (NASDAQ:FWRD) has been given a $74.00 target price by equities researchers at Stephens in a report issued on Friday. The brokerage presently has a “buy” rating on the transportation company’s stock. Stephens’ target price points to a potential upside of 34.72% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Robert W. Baird upgraded Forward Air from a “neutral” rating to an “outperform” rating in a report on Thursday, January 18th. Zacks Investment Research upgraded Forward Air from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Tuesday, January 9th. BidaskClub downgraded Forward Air from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Cowen restated a “market perform” rating and set a $54.00 price target (up previously from $51.00) on shares of Forward Air in a report on Monday, October 30th. Finally, Stifel Nicolaus upped their price target on Forward Air from $47.00 to $52.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $61.40.

Shares of Forward Air (FWRD) traded up $0.26 during midday trading on Friday, reaching $54.93. The company’s stock had a trading volume of 380,005 shares, compared to its average volume of 232,229. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.08. Forward Air has a 12 month low of $45.86 and a 12 month high of $64.80. The stock has a market cap of $1,767.28, a P/E ratio of 19.01 and a beta of 1.17.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings results on Wednesday, February 7th. The transportation company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Forward Air had a return on equity of 14.08% and a net margin of 7.93%. The company had revenue of $306.10 million for the quarter, compared to the consensus estimate of $301.47 million. During the same quarter in the prior year, the business earned $0.58 EPS. Forward Air’s revenue was up 15.6% on a year-over-year basis. analysts anticipate that Forward Air will post 2.97 EPS for the current year.

In related news, Chairman Bruce A. Campbell sold 28,744 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.25, for a total value of $1,616,850.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris C. Ruble sold 23,020 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $57.75, for a total value of $1,329,405.00. Following the completion of the sale, the insider now directly owns 28,279 shares of the company’s stock, valued at $1,633,112.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,909 shares of company stock worth $5,157,356. Company insiders own 2.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Forward Air by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,694,979 shares of the transportation company’s stock valued at $143,589,000 after purchasing an additional 16,137 shares during the period. Victory Capital Management Inc. boosted its position 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 period. Dimensional Fund Advisors LP boosted its position in shares of Forward Air by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,214,199 shares of the transportation company’s stock valued at $69,488,000 after purchasing an additional 3,378 shares during the period. State Street Corp boosted its position in shares of Forward Air by 1.4% in the 2nd quarter. State Street Corp now owns 785,118 shares of the transportation company’s stock valued at $41,835,000 after purchasing an additional 10,471 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Forward Air by 4.6% in the 2nd quarter. Northern Trust Corp now owns 467,009 shares of the transportation company’s stock valued at $24,882,000 after purchasing an additional 20,421 shares during the period. 95.88% of the stock is owned by hedge funds and other institutional investors.

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Forward Air Company Profile

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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