Forward Air Co. (NASDAQ:FWRD) Receives Consensus Recommendation of “Buy” from Analysts

Forward Air Co. (NASDAQ:FWRDGet Rating) has received an average recommendation of “Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $136.86.

Several brokerages have commented on FWRD. Susquehanna dropped their price objective on Forward Air from $143.00 to $133.00 in a report on Friday, April 29th. Susquehanna Bancshares dropped their price objective on Forward Air from $143.00 to $133.00 in a report on Friday, April 29th. StockNews.com raised Forward Air from a “hold” rating to a “buy” rating in a report on Monday, May 2nd. Finally, Stifel Nicolaus raised Forward Air from a “hold” rating to a “buy” rating and raised their price objective for the company from $122.00 to $136.00 in a report on Thursday, April 28th.

Several large investors have recently modified their holdings of FWRD. Morgan Stanley boosted its stake in shares of Forward Air by 18.3% in the second quarter. Morgan Stanley now owns 136,764 shares of the transportation company’s stock worth $12,275,000 after acquiring an additional 21,111 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Forward Air by 45.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 17,828 shares of the transportation company’s stock worth $1,481,000 after buying an additional 5,608 shares in the last quarter. Deutsche Bank AG lifted its position in Forward Air by 483.4% during the third quarter. Deutsche Bank AG now owns 111,421 shares of the transportation company’s stock worth $9,250,000 after buying an additional 92,322 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Forward Air by 1.9% during the third quarter. PNC Financial Services Group Inc. now owns 8,551 shares of the transportation company’s stock worth $711,000 after buying an additional 156 shares in the last quarter. Finally, Advisor Group Holdings Inc. lifted its position in Forward Air by 8.7% during the third quarter. Advisor Group Holdings Inc. now owns 3,171 shares of the transportation company’s stock worth $263,000 after buying an additional 255 shares in the last quarter. 97.66% of the stock is currently owned by hedge funds and other institutional investors.

Forward Air stock opened at $99.47 on Friday. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 19.81 and a beta of 1.15. Forward Air has a 52 week low of $80.56 and a 52 week high of $125.71. The business’s 50-day moving average price is $96.95 and its 200 day moving average price is $103.76. The company has a quick ratio of 1.72, a current ratio of 1.73 and a debt-to-equity ratio of 0.27.

Forward Air (NASDAQ:FWRDGet Rating) last posted its earnings results on Wednesday, April 27th. The transportation company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.16 by $0.41. Forward Air had a return on equity of 24.69% and a net margin of 7.77%. During the same quarter last year, the business earned $0.60 EPS. Equities analysts expect that Forward Air will post 6.24 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 14th. Stockholders of record on Thursday, May 26th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Wednesday, May 25th. Forward Air’s dividend payout ratio is presently 19.12%.

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.

Read More

Analyst Recommendations for Forward Air (NASDAQ:FWRD)

Receive News & Ratings for Forward Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air and related companies with MarketBeat.com's FREE daily email newsletter.