Forward Air Corporation (NASDAQ:FWRD) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Forward Air Corporation (NASDAQ:FWRD) have been assigned an average recommendation of “Hold” from the five ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $17.50.

A number of analysts recently issued reports on the stock. Susquehanna lowered their price target on shares of Forward Air from $42.00 to $18.00 and set a “positive” rating on the stock in a report on Friday, May 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Forward Air in a report on Tuesday, April 21st. Finally, Stifel Nicolaus set a $17.00 price target on shares of Forward Air in a report on Friday, May 8th.

Forward Air Stock Performance

Shares of NASDAQ FWRD opened at $8.80 on Friday. The company’s fifty day moving average price is $16.49 and its 200 day moving average price is $22.13. Forward Air has a 1 year low of $7.86 and a 1 year high of $32.47. The company has a market capitalization of $278.26 million, a PE ratio of -3.00 and a beta of 1.59. The company has a debt-to-equity ratio of 13.98, a quick ratio of 1.23 and a current ratio of 1.23.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Thursday, May 7th. The transportation company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.74). Forward Air had a negative return on equity of 41.21% and a negative net margin of 3.71%.The firm had revenue of $582.05 million for the quarter, compared to analysts’ expectations of $620.23 million. During the same period last year, the company posted ($1.68) earnings per share. The business’s quarterly revenue was down 5.1% on a year-over-year basis. On average, research analysts predict that Forward Air will post -1.08 earnings per share for the current year.

Hedge Funds Weigh In On Forward Air

Large investors have recently added to or reduced their stakes in the stock. Rothschild Investment LLC raised its position in Forward Air by 337,481.3% during the third quarter. Rothschild Investment LLC now owns 270,065 shares of the transportation company’s stock worth $6,924,000 after acquiring an additional 269,985 shares during the period. Integrity Financial Corp WA acquired a new position in Forward Air during the third quarter worth $853,000. Allianz Asset Management GmbH acquired a new position in Forward Air during the third quarter worth $8,295,000. Oasis Management Co Ltd. acquired a new position in Forward Air during the third quarter worth $4,447,000. Finally, Vanguard Group Inc. raised its position in Forward Air by 15.1% during 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 during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.