Forward Air (NASDAQ:FWRD) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of Forward Air Corporation (NASDAQ:FWRD) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $25.26 and traded as high as $25.63. Forward Air shares last traded at $25.4550, with a volume of 147,897 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Stifel Nicolaus cut their price target 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. Zacks Research raised Forward Air from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Jefferies Financial Group restated a “buy” rating on shares of Forward Air in a research note on Thursday, November 6th. Wall Street Zen downgraded Forward Air from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Forward Air in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $33.67.

Forward Air Stock Up 0.5%

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 capitalization of $795.47 million, a price-to-earnings ratio of -6.61 and a beta of 1.37. The business’s 50-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) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.39). The company had revenue of $631.76 million for the quarter, compared to analysts’ expectations of $645.45 million. Forward Air had a negative net margin of 4.64% and a negative return on equity of 33.13%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.62) EPS. As a group, equities analysts predict that Forward Air Corporation will post -0.72 earnings per share for the current year.

Institutional Investors Weigh In On Forward Air

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

About Forward Air

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.