Forward Air (NASDAQ:FWRD) Hits New 12-Month Low at $21.70

Shares of Forward Air Co. (NASDAQ:FWRD) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $21.70 and last traded at $22.06, with a volume of 291669 shares traded. The stock had previously closed at $23.04.

Analysts Set New Price Targets

FWRD has been the topic of several research reports. Stifel Nicolaus dropped their target price on shares of Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. Wolfe Research cut shares of Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a report on Wednesday, January 10th. Benchmark restated a “hold” rating on shares of Forward Air in a report on Wednesday. StockNews.com cut shares of Forward Air from a “hold” rating to a “sell” rating in a report on Monday, March 18th. Finally, Robert W. Baird dropped their target price on shares of Forward Air from $50.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, March 1st. 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. According to data from MarketBeat, Forward Air presently has a consensus rating of “Hold” and an average price target of $80.14.

Forward Air Stock Down 3.3 %

The company has a debt-to-equity ratio of 2.38, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market capitalization of $587.26 million, a P/E ratio of 3.47 and a beta of 0.98. The company’s 50-day simple moving average is $29.84 and its two-hundred day simple moving average is $50.04.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Thursday, February 29th. The transportation company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.16). The business had revenue of $338.43 million during the quarter, compared to the consensus estimate of $406.96 million. Forward Air had a return on equity of 15.30% and a net margin of 10.58%. The firm’s revenue was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 earnings per share. As a group, research analysts expect that Forward Air Co. will post 0.56 earnings per share for the current year.

Institutional Trading of Forward Air

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC raised its position in shares of Forward Air by 86.9% during the 3rd quarter. CWM LLC now owns 669 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 311 shares during the period. Headlands Technologies LLC bought a new stake in shares of Forward Air during the 4th quarter valued at $52,000. UMB Bank n.a. raised its position in shares of Forward Air by 413.5% during the 1st quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 674 shares during the period. Signaturefd LLC raised its position in shares of Forward Air by 306.9% during the 3rd quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock valued at $65,000 after purchasing an additional 715 shares during the period. Finally, TFO Wealth Partners LLC raised its position in shares of Forward Air by 116,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock valued at $73,000 after purchasing an additional 1,162 shares during the period. 97.03% of the stock is currently owned by institutional investors.

About Forward Air

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.