Forward Air Co. (NASDAQ:FWRD) Short Interest Update

Forward Air Co. (NASDAQ:FWRDGet Free Report) was the target of a large decline in short interest in June. As of June 15th, there was short interest totalling 6,400,000 shares, a decline of 7.4% from the May 31st total of 6,910,000 shares. Approximately 32.3% of the company’s stock are short sold. Based on an average daily volume of 1,310,000 shares, the days-to-cover ratio is currently 4.9 days.

Forward Air Price Performance

Forward Air stock opened at $19.45 on Thursday. Forward Air has a 52 week low of $11.21 and a 52 week high of $121.38. The company’s 50 day moving average price is $18.43 and its two-hundred day moving average price is $33.42. The stock has a market cap of $514.26 million, a P/E ratio of 5.69 and a beta of 1.00. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.27.

Forward Air (NASDAQ:FWRDGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The transportation company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.49). The business had revenue of $541.81 million for the quarter, compared to the consensus estimate of $644.00 million. Forward Air had a return on equity of 5.37% and a net margin of 4.08%. During the same quarter last year, the business posted $1.37 earnings per share. On average, equities analysts predict that Forward Air will post -0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FWRD shares. Robert W. Baird raised their price objective on shares of Forward Air from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday. Wolfe Research upgraded Forward Air from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, May 28th. lowered Forward Air from a “hold” rating to a “sell” rating in a report on Monday, March 18th. Finally, Benchmark restated a “hold” rating on shares of Forward Air in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to, Forward Air currently has an average rating of “Hold” and an average target price of $76.86.

Check Out Our Latest Stock Analysis on FWRD

Hedge Funds Weigh In On Forward Air

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Forward Air in the fourth quarter worth about $43,281,000. Schroder Investment Management Group increased its stake in shares of Forward Air by 23.4% during the 4th quarter. Schroder Investment Management Group now owns 410,664 shares of the transportation company’s stock worth $25,818,000 after purchasing an additional 77,909 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Forward Air in the 3rd quarter worth approximately $27,870,000. Trexquant Investment LP purchased a new position in Forward Air in the fourth quarter valued at approximately $1,701,000. Finally, Ameriprise Financial Inc. grew its holdings in Forward Air by 7.3% during the third quarter. Ameriprise Financial Inc. now owns 673,369 shares of the transportation company’s stock valued at $46,287,000 after purchasing an additional 45,912 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Forward Air Company Profile

(Get Free Report)

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.

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