BidaskClub Downgrades Forward Air (FWRD) to Strong Sell

Forward Air (NASDAQ:FWRD) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday, August 1st.

Separately, Stifel Nicolaus lifted their price target on shares of Forward Air from $46.00 to $47.00 and gave the company a “hold” rating in a report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $61.40.

How to Become a New Pot Stock Millionaire

Shares of FWRD traded down $0.48 on Tuesday, reaching $53.23. The company’s stock had a trading volume of 110,462 shares, compared to its average volume of 191,390. The company has a current ratio of 2.71, a quick ratio of 2.68 and a debt-to-equity ratio of 0.08. The company has a market cap of $1,579.98, a price-to-earnings ratio of 22.56 and a beta of 1.25. Forward Air has a 12-month low of $46.50 and a 12-month high of $64.80.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, February 7th. The transportation company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $306.10 million for the quarter, compared to the consensus estimate of $301.47 million. Forward Air had a net margin of 7.93% and a return on equity of 13.91%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 earnings per share. analysts predict that Forward Air will post 2.98 EPS for the current fiscal year.

In other Forward Air news, Director George M. Lynch sold 2,443 shares of Forward Air stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $55.47, for a total transaction of $135,513.21. Following the transaction, the director now owns 9,940 shares of the company’s stock, valued at $551,371.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of 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. US Bancorp DE raised its position in shares of Forward Air by 22.6% during the second quarter. US Bancorp DE now owns 2,411 shares of the transportation company’s stock valued at $129,000 after buying an additional 445 shares during the last quarter. Rhumbline Advisers raised its position in shares of Forward Air by 2.8% during the third quarter. Rhumbline Advisers now owns 69,070 shares of the transportation company’s stock valued at $3,953,000 after buying an additional 1,882 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Forward Air by 53.3% during the second quarter. BNP Paribas Arbitrage SA now owns 10,231 shares of the transportation company’s stock valued at $545,000 after buying an additional 3,557 shares during the last quarter. Finally, Confluence Investment Management LLC raised its position in shares of Forward Air by 3.0% during the fourth quarter. Confluence Investment Management LLC now owns 79,894 shares of the transportation company’s stock valued at $4,589,000 after buying an additional 2,352 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This article was originally published by American Banking News and is the property of of American Banking News. If you are reading this article on another website, it was stolen and republished in violation of international copyright laws. The correct version of this article can be accessed at https://www.americanbankingnews.com/2018/04/14/bidaskclub-downgrades-forward-air-fwrd-to-strong-sell.html.

About Forward Air

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-than-truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).

Analyst Recommendations for Forward Air (NASDAQ:FWRD)

Receive News & Ratings for Forward Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply