Forward Air’s (FWRD) “Maintains” Rating Reaffirmed at Raymond James

Raymond James reiterated their maintains rating on shares of Forward Air (NASDAQ:FWRDGet Rating) in a report published on Friday morning, Benzinga reports.

FWRD has been the topic of a number of other reports. Stifel Nicolaus upgraded shares of Forward Air from a hold rating to a buy rating and upped their target price for the stock from $122.00 to $136.00 in a research report on Thursday, April 28th. StockNews.com upgraded shares of Forward Air from a hold rating to a buy rating in a report on Monday, May 2nd. Susquehanna Bancshares cut their price objective on shares of Forward Air from $143.00 to $133.00 in a report on Friday, April 29th. Benchmark assumed coverage on shares of Forward Air in a report on Tuesday, July 19th. They issued a hold rating on the stock. Finally, Susquehanna cut their price objective on shares of Forward Air from $143.00 to $133.00 in a report on Friday, April 29th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $137.83.

Forward Air Price Performance

Shares of FWRD stock opened at $105.15 on Friday. Forward Air has a 1 year low of $80.56 and a 1 year high of $125.71. The firm’s 50 day moving average is $92.81 and its 200-day moving average is $97.05. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 17.67 and a beta of 1.13. The company has a current ratio of 1.89, a quick ratio of 1.73 and a debt-to-equity ratio of 0.24.

Forward Air (NASDAQ:FWRDGet Rating) last announced its earnings results on Wednesday, July 27th. The transportation company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.02. Forward Air had a net margin of 8.71% and a return on equity of 27.62%. The company had revenue of $515.22 million for the quarter, compared to analyst estimates of $515.72 million. During the same period in the prior year, the business earned $1.11 earnings per share. Forward Air’s quarterly revenue was up 22.5% on a year-over-year basis. Sell-side analysts forecast that Forward Air will post 6.78 EPS for the current fiscal year.

Forward Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Wednesday, August 17th. Forward Air’s payout ratio is presently 16.13%.

Institutional Investors Weigh In On Forward Air

Large investors have recently bought and sold shares of the company. Eaton Vance Management increased its position in shares of Forward Air by 14.6% during the fourth quarter. Eaton Vance Management now owns 997 shares of the transportation company’s stock worth $30,000 after acquiring an additional 127 shares in the last quarter. CWM LLC increased its position in shares of Forward Air by 73.5% during the second quarter. CWM LLC now owns 354 shares of the transportation company’s stock worth $33,000 after acquiring an additional 150 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Forward Air during the first quarter worth $45,000. UMB Bank N A MO bought a new stake in shares of Forward Air during the fourth quarter worth $56,000. Finally, Pinebridge Investments L.P. bought a new stake in shares of Forward Air during the fourth quarter worth $73,000. Institutional investors own 97.66% of the company’s stock.

About Forward Air

(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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Analyst Recommendations for Forward Air (NASDAQ:FWRD)

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