Forward Air (NASDAQ:FWRD) Rating Reiterated by Benchmark

Benchmark reissued their hold rating on shares of Forward Air (NASDAQ:FWRD) in a report published on Wednesday morning, Benzinga reports.

A number of other research analysts also recently commented on FWRD. Stifel Nicolaus dropped their price target on Forward Air from $80.00 to $55.00 and set a hold rating for the company in a research note on Monday, January 22nd. Wolfe Research downgraded Forward Air from a peer perform rating to an underperform rating and set a $50.00 price target for the company. in a research note on Wednesday, January 10th. Robert W. Baird dropped their price target on Forward Air from $50.00 to $40.00 and set a neutral rating for the company in a research note on Friday, March 1st. Finally, StockNews.com downgraded Forward Air from a hold rating to a sell rating in a research note on Monday, March 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Forward Air has an average rating of Hold and an average target price of $80.14.

Forward Air Trading Down 3.3 %

Shares of Forward Air stock opened at $22.27 on Wednesday. The business has a fifty day simple moving average of $30.18 and a two-hundred day simple moving average of $50.39. Forward Air has a 1 year low of $21.70 and a 1 year high of $121.38. The company has a market capitalization of $587.26 million, a price-to-earnings ratio of 3.47 and a beta of 0.98. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.46 and a quick ratio of 1.46.

Forward Air (NASDAQ:FWRD) last posted its earnings results on Thursday, February 29th. The transportation company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.16). Forward Air had a return on equity of 15.30% and a net margin of 10.58%. The firm had revenue of $338.43 million for the quarter, compared to analyst estimates of $406.96 million. During the same period in the prior year, the business posted $1.65 EPS. The firm’s quarterly revenue was down 16.0% compared to the same quarter last year. Research analysts forecast that Forward Air will post 0.56 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FWRD. UMB Bank n.a. grew its holdings in shares of Forward Air by 413.5% during the first quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock worth $26,000 after purchasing an additional 674 shares during the last quarter. CWM LLC grew its holdings in shares of Forward Air by 86.9% during the third quarter. CWM LLC now owns 669 shares of the transportation company’s stock worth $46,000 after purchasing an additional 311 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Forward Air during the fourth quarter worth about $52,000. Signaturefd LLC grew its holdings in shares of Forward Air by 306.9% during the third quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock worth $65,000 after purchasing an additional 715 shares during the last quarter. Finally, TFO Wealth Partners LLC lifted its stake in shares of 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 worth $73,000 after acquiring an additional 1,162 shares during the period. Institutional investors own 97.03% of the company’s stock.

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.