Forward Air (FWRD) – Investment Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Forward Air (NASDAQ: FWRD):

  • 7/6/2018 – Forward Air was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $67.00 price target on the stock. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 7/5/2018 – Forward Air was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 6/27/2018 – Forward Air was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 6/27/2018 – Forward Air was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 6/21/2018 – Forward Air was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 6/20/2018 – Forward Air was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/19/2018 – Forward Air was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $69.00 price target on the stock. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 6/18/2018 – Forward Air was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 6/12/2018 – Forward Air was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $68.00 price target on the stock. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 5/18/2018 – Forward Air was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Forward Air opened at $59.89 on Monday, MarketBeat.com reports. Forward Air Co. has a one year low of $49.88 and a one year high of $64.80. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 25.38 and a beta of 1.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.56 and a current ratio of 2.56.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, April 25th. The transportation company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. Forward Air had a net margin of 7.85% and a return on equity of 14.41%. The business had revenue of $302.60 million for the quarter, compared to the consensus estimate of $291.73 million. During the same period in the prior year, the company posted $0.48 earnings per share. Forward Air’s revenue was up 15.5% compared to the same quarter last year. analysts predict that Forward Air Co. will post 3.02 earnings per share for the current fiscal year.

In other news, VP Michael L. Hance sold 4,669 shares of the stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $60.66, for a total value of $283,221.54. Following the completion of the transaction, the vice president now owns 31,120 shares of the company’s stock, valued at $1,887,739.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew J. Jewell sold 2,328 shares of the stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $60.00, for a total transaction of $139,680.00. Following the completion of the transaction, the insider now directly owns 40,265 shares of the company’s stock, valued at approximately $2,415,900. The disclosure for this sale can be found here. Insiders have sold 21,198 shares of company stock worth $1,279,195 over the last quarter. Corporate insiders own 1.95% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. raised its holdings in Forward Air by 1,075.0% in the 1st quarter. Sei Investments Co. now owns 2,256 shares of the transportation company’s stock valued at $119,000 after buying an additional 2,064 shares during the last quarter. Advisor Group Inc. raised its holdings in Forward Air by 138.7% in the 4th quarter. Advisor Group Inc. now owns 2,626 shares of the transportation company’s stock valued at $151,000 after buying an additional 1,526 shares during the last quarter. Royal Bank of Canada raised its holdings in Forward Air by 281.0% in the 1st quarter. Royal Bank of Canada now owns 2,995 shares of the transportation company’s stock valued at $159,000 after buying an additional 2,209 shares during the last quarter. Bruderman Asset Management LLC bought a new position in Forward Air during the 1st quarter worth approximately $166,000. Finally, Verition Fund Management LLC bought a new position in Forward Air during the 4th quarter worth approximately $238,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

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).

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