Forward Air (NASDAQ:FWRD) Upgraded to Buy by Stifel Nicolaus

Stifel Nicolaus upgraded shares of Forward Air (NASDAQ:FWRDGet Rating) from a hold rating to a buy rating in a report issued on Thursday, The Fly reports. They currently have $136.00 price target on the transportation company’s stock, up from their previous price target of $122.00.

Other equities research analysts have also issued reports about the company. Robert W. Baird lowered Forward Air from an outperform rating to a neutral rating and upped their price target for the stock from $110.00 to $125.00 in a research note on Wednesday, January 5th. Wolfe Research downgraded shares of Forward Air from an outperform rating to a peer perform rating in a research report on Thursday, January 6th. Raymond James lifted their price target on shares of Forward Air from $135.00 to $145.00 and gave the company a strong-buy rating in a research report on Thursday, December 30th. Stephens raised shares of Forward Air from an equal weight rating to an overweight rating and increased their price objective for the stock from $115.00 to $165.00 in a research report on Tuesday, January 4th. Finally, StockNews.com lowered shares of Forward Air from a buy rating to a hold rating in a report on Sunday, April 10th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Buy and a consensus price target of $136.71.

Shares of FWRD stock opened at $98.00 on Thursday. Forward Air has a 1-year low of $80.56 and a 1-year high of $125.71. The firm’s 50-day simple moving average is $97.13 and its 200-day simple moving average is $103.09. The firm has a market cap of $2.63 billion, a P/E ratio of 25.45 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.72 and a quick ratio of 1.72.

Forward Air (NASDAQ:FWRDGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The transportation company reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.41. Forward Air had a net margin of 6.37% and a return on equity of 20.80%. During the same quarter in the prior year, the company earned $0.60 EPS. Analysts expect that Forward Air will post 5.8 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 14th. Stockholders of record on Thursday, May 26th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, May 25th. This represents a $0.96 annualized dividend and a dividend yield of 0.98%. Forward Air’s dividend payout ratio is presently 24.94%.

Large investors have recently added to or reduced their stakes in the stock. Morgan Stanley increased its holdings in Forward Air by 18.3% during the 2nd quarter. Morgan Stanley now owns 136,764 shares of the transportation company’s stock worth $12,275,000 after purchasing an additional 21,111 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Forward Air by 16.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 30,597 shares of the transportation company’s stock valued at $2,540,000 after acquiring an additional 4,376 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Forward Air by 19.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 5,811 shares of the transportation company’s stock valued at $482,000 after acquiring an additional 932 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Forward Air by 45.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 17,828 shares of the transportation company’s stock worth $1,481,000 after acquiring an additional 5,608 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Forward Air by 483.4% in the 3rd quarter. Deutsche Bank AG now owns 111,421 shares of the transportation company’s stock worth $9,250,000 after purchasing an additional 92,322 shares during the last quarter. Institutional investors and hedge funds own 98.01% of the company’s stock.

Forward Air Company Profile (Get Rating)

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 final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.

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