Forward Air Corporation (NASDAQ:FWRD) Given Average Rating of “Hold” by Brokerages

Forward Air Corporation (NASDAQ:FWRD) has earned an average rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $33.6667.

FWRD has been the subject of several analyst reports. Zacks Research upgraded Forward Air from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Stifel Nicolaus reduced their price objective on shares of Forward Air from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Jefferies Financial Group restated a “buy” rating on shares of Forward Air in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Forward Air in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th.

Forward Air Stock Performance

FWRD stock opened at $25.46 on Thursday. Forward Air has a twelve month low of $9.78 and a twelve month high of $35.47. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 8.73. The company has a market cap of $795.47 million, a P/E ratio of -6.61 and a beta of 1.37. The business’s fifty day moving average is $22.17 and its 200-day moving average is $25.26.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Wednesday, November 5th. The transportation company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.39). Forward Air had a negative net margin of 4.64% and a negative return on equity of 33.13%. The company had revenue of $631.76 million during the quarter, compared to the consensus estimate of $645.45 million. During the same quarter in the prior year, the company posted ($2.62) EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities research analysts forecast that Forward Air will post -0.72 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Forward Air by 15.1% in the third quarter. Vanguard Group Inc. now owns 2,353,608 shares of the transportation company’s stock worth $60,347,000 after acquiring an additional 307,906 shares in the last quarter. Ridgemont Partners Management LLC grew its position in shares of Forward Air by 0.7% in the 3rd quarter. Ridgemont Partners Management LLC now owns 1,937,405 shares of the transportation company’s stock valued at $49,675,000 after purchasing an additional 13,926 shares during the period. Ancora Advisors LLC increased its stake in Forward Air by 8.5% during the 3rd quarter. Ancora Advisors LLC now owns 1,475,055 shares of the transportation company’s stock worth $37,820,000 after purchasing an additional 116,012 shares in the last quarter. Private Management Group Inc. raised its holdings in Forward Air by 8.7% during the 2nd quarter. Private Management Group Inc. now owns 1,046,226 shares of the transportation company’s stock worth $25,674,000 after buying an additional 83,600 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Forward Air by 47.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 786,883 shares of the transportation company’s stock worth $19,310,000 after buying an additional 252,509 shares during the period. 97.03% of the stock is currently owned by institutional investors.

Forward Air Company Profile

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.