Forward Air Corporation (NASDAQ:FWRD) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Forward Air Corporation (NASDAQ:FWRD) have been given an average recommendation of “Hold” by the five analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $37.00.

FWRD has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of Forward Air from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Zacks Research lowered shares of Forward Air from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a research report on Thursday, January 22nd. Finally, Susquehanna reissued a “positive” rating and set a $42.00 target price on shares of Forward Air in a research note on Tuesday, February 24th.

Forward Air Trading Up 0.4%

NASDAQ:FWRD opened at $22.03 on Tuesday. The stock has a fifty day simple moving average of $26.97 and a 200 day simple moving average of $25.32. The firm has a market capitalization of $688.44 million, a price-to-earnings ratio of -6.26 and a beta of 1.33. Forward Air has a 1-year low of $9.78 and a 1-year high of $32.47. The company has a quick ratio of 1.20, a current ratio of 1.22 and a debt-to-equity ratio of 10.58.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Monday, February 23rd. The transportation company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Forward Air had a negative return on equity of 42.67% and a negative net margin of 4.32%.The company had revenue of $631.23 million for the quarter, compared to analyst estimates of $629.60 million. During the same quarter in the previous year, the firm posted ($1.23) EPS. Forward Air’s quarterly revenue was up 1.2% on a year-over-year basis. Sell-side analysts forecast that Forward Air will post -0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FWRD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Forward Air by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock worth $299,000 after acquiring an additional 624 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Forward Air by 12.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,725 shares of the transportation company’s stock worth $140,000 after purchasing an additional 629 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Forward Air by 7.0% during the first quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock worth $201,000 after purchasing an additional 654 shares during the period. LPL Financial LLC boosted its holdings in shares of Forward Air by 1.5% during the fourth quarter. LPL Financial LLC now owns 43,228 shares of the transportation company’s stock worth $1,081,000 after purchasing an additional 655 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in Forward Air by 5.2% during the second quarter. Thrivent Financial for Lutherans now owns 15,436 shares of the transportation company’s stock valued at $379,000 after purchasing an additional 762 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

About Forward Air

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.