Forward Air Co. (NASDAQ:FWRD) Given Average Recommendation of “Hold” by Brokerages

Forward Air Co. (NASDAQ:FWRD) has received an average rating of “Hold” from the five analysts that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $51.00.

Several research analysts have issued reports on the company. 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 company a “neutral” rating in a research report on Thursday, August 8th. Finally, Wolfe Research upgraded shares of Forward Air from an “underperform” rating to a “peer perform” rating in a report on Tuesday, May 28th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FWRD. UMB Bank n.a. grew its stake in Forward Air by 413.5% in the 1st quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 674 shares during the period. TFO Wealth Partners LLC boosted its stake in Forward Air by 116,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock valued at $73,000 after acquiring an additional 1,162 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Forward Air during the 2nd quarter valued at approximately $26,000. Headlands Technologies LLC grew its position in shares of Forward Air by 98.5% during the 1st 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 period. Finally, Gladius Capital Management LP increased its stake in shares of Forward Air by 33.5% during the 2nd 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. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Forward Air Trading Down 5.0 %

NASDAQ FWRD opened at $31.82 on Friday. The stock has a market capitalization of $841.26 million, a P/E ratio of 9.30 and a beta of 1.02. The business has a 50 day simple moving average of $25.80 and a 200 day simple moving average of $24.87. 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 one year low of $11.21 and a one year high of $79.51.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Wednesday, August 7th. The transportation company reported ($23.29) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($23.11). The company had revenue of $643.67 million during the quarter, compared to the consensus estimate 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 revenue was up 92.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. Research analysts expect that Forward Air will post -1.01 earnings per share for the current year.

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.