Forward Air (NASDAQ:FWRD) Upgraded at StockNews.com

Forward Air (NASDAQ:FWRD) was upgraded by research analysts at StockNews.com to a “sell” rating in a research report issued on Wednesday.

Other equities analysts have also issued research reports about the stock. Benchmark reiterated a “hold” rating on shares of Forward Air in a report on Monday, August 12th. Robert W. Baird lifted their price target on shares of Forward Air from $17.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Stifel Nicolaus lifted their target price on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the stock a “buy” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.25.

Forward Air Stock Performance

Shares of NASDAQ:FWRD opened at $36.85 on Wednesday. The company’s 50 day simple moving average is $35.67 and its 200 day simple moving average is $26.58. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -1.77 and a beta of 1.02. The company has a debt-to-equity ratio of 4.70, a current ratio of 1.33 and a quick ratio of 1.33. Forward Air has a 1 year low of $11.21 and a 1 year high of $68.09.

Forward Air (NASDAQ:FWRD) last issued its earnings results on Wednesday, August 7th. The transportation company reported ($23.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($23.11). The company had revenue of $643.67 million during the quarter, compared to analyst estimates of $642.92 million. Forward Air had a negative net margin of 30.77% and a negative return on equity of 79.11%. The business’s quarterly revenue was up 92.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 EPS. As a group, research analysts predict that Forward Air will post -1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FWRD. Point72 DIFC Ltd purchased a new position in Forward Air during the second quarter worth about $26,000. Gladius Capital Management LP boosted its holdings in Forward Air by 33.5% during the second quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock worth $37,000 after purchasing an additional 493 shares during the last quarter. GAMMA Investing LLC boosted its stake in Forward Air by 2,329.3% in the second quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 1,910 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in Forward Air in the third quarter valued at about $39,000. Finally, Headlands Technologies LLC boosted its stake in Forward Air by 98.5% in the first quarter. Headlands Technologies LLC now owns 1,634 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 811 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Forward Air Company Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.