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

Forward Air Corporation (NASDAQ:FWRD) has been given an average recommendation of “Hold” by the five ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $17.50.

FWRD has been the topic of a number of recent analyst reports. Susquehanna reduced their price target on Forward Air from $42.00 to $18.00 and set a “positive” rating on the stock in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Forward Air in a research report on Tuesday, April 21st. Stifel Nicolaus set a $17.00 target price on Forward Air in a research note on Friday, May 8th. Finally, Zacks Research upgraded Forward Air from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th.

Forward Air Trading Up 1.5%

Shares of NASDAQ:FWRD opened at $13.75 on Monday. The company has a market capitalization of $434.77 million, a PE ratio of -4.69 and a beta of 1.36. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 13.98. Forward Air has a 12-month low of $7.86 and a 12-month high of $32.47. The business’s fifty day simple moving average is $11.75 and its 200-day simple moving average is $19.15.

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

Institutional Trading of Forward Air

A number of institutional investors have recently bought and sold shares of the stock. Allied Private Wealth LLC acquired a new position in shares of Forward Air in the second quarter valued at about $57,000. Cornerstone Wealth LLC TN acquired a new position in Forward Air during the first quarter valued at $319,000. ADAR1 Capital Management LLC boosted its holdings in Forward Air by 193.8% in the first quarter. ADAR1 Capital Management LLC now owns 78,241 shares of the transportation company’s stock valued at $1,307,000 after purchasing an additional 51,606 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Forward Air by 25.0% in the first quarter. Quantinno Capital Management LP now owns 20,758 shares of the transportation company’s stock valued at $347,000 after purchasing an additional 4,155 shares during the last quarter. Finally, Entropy Technologies LP grew its position in Forward Air by 109.5% during the 1st quarter. Entropy Technologies LP now owns 19,680 shares of the transportation company’s stock worth $329,000 after purchasing an additional 10,287 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Forward Air Company Profile

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.