Forward Air (NASDAQ:FWRD) Sets New 1-Year Low at $26.30

Forward Air Co. (NASDAQ:FWRD)’s stock price hit a new 52-week low on Friday . The stock traded as low as $26.30 and last traded at $26.43, with a volume of 217347 shares changing hands. The stock had previously closed at $27.60.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Robert W. Baird lowered their price target on Forward Air from $50.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, March 1st. StockNews.com downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Wolfe Research cut Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective on the stock. in a research report on Wednesday, January 10th. Stifel Nicolaus reduced their target price on Forward Air from $80.00 to $55.00 and set a “hold” rating for the company in a report on Monday, January 22nd. Finally, Benchmark reaffirmed a “hold” rating on shares of Forward Air in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Forward Air has an average rating of “Hold” and a consensus price target of $80.14.

Forward Air Stock Performance

The business’s 50 day simple moving average is $33.51 and its two-hundred day simple moving average is $53.13. The firm has a market capitalization of $674.54 million, a PE ratio of 3.98 and a beta of 0.98. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 2.38.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Thursday, February 29th. The transportation company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.16). The firm had revenue of $338.43 million for the quarter, compared to analysts’ expectations of $406.96 million. Forward Air had a net margin of 10.58% and a return on equity of 15.30%. The firm’s revenue was down 16.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 EPS. Research analysts expect that Forward Air Co. will post 0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Forward Air

Institutional investors and hedge funds have recently made changes to their positions in the business. Cim Investment Management Inc. raised its position in Forward Air by 3.6% in the first quarter. Cim Investment Management Inc. now owns 3,541 shares of the transportation company’s stock worth $382,000 after acquiring an additional 122 shares during the period. Gotham Asset Management LLC lifted its position in Forward Air by 1.5% during the first quarter. Gotham Asset Management LLC now owns 9,202 shares of the transportation company’s stock valued at $992,000 after purchasing an additional 134 shares in the last quarter. Guggenheim Capital LLC lifted its position in Forward Air by 7.1% during the second quarter. Guggenheim Capital LLC now owns 2,428 shares of the transportation company’s stock valued at $258,000 after purchasing an additional 161 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in Forward Air by 39.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 185 shares in the last quarter. Finally, US Bancorp DE lifted its position in Forward Air by 3.9% during the first quarter. US Bancorp DE now owns 5,053 shares of the transportation company’s stock valued at $495,000 after purchasing an additional 192 shares in the last quarter. Hedge funds and other 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.