Forward Air (NASDAQ:FWRD)‘s stock had its “buy” rating restated by equities researchers at Stephens in a report issued on Wednesday, January 10th. They presently have a $80.00 price target on the transportation company’s stock. Stephens’ price objective points to a potential upside of 33.58% from the stock’s current price.
Several other research analysts have also recently weighed in on FWRD. Zacks Investment Research upgraded shares of Forward Air from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Tuesday, January 9th. BidaskClub lowered shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Cowen reissued a “market perform” rating and issued a $54.00 price target (up previously from $51.00) on shares of Forward Air in a research report on Monday, October 30th. Stifel Nicolaus boosted their price target on shares of Forward Air from $47.00 to $52.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Finally, Robert W. Baird reissued a “hold” rating and issued a $60.00 price target on shares of Forward Air in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $62.60.
Forward Air (NASDAQ FWRD) traded down $0.63 during midday trading on Wednesday, hitting $59.89. 182,300 shares of the company traded hands, compared to its average volume of 234,030. Forward Air has a twelve month low of $45.86 and a twelve month high of $60.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.71 and a quick ratio of 2.71. The firm has a market cap of $1,801.82, a price-to-earnings ratio of 28.12 and a beta of 1.18.
Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.58 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. Forward Air had a net margin of 6.10% and a return on equity of 13.76%. The firm had revenue of $280.20 million during the quarter, compared to the consensus estimate of $278.75 million. During the same quarter last year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. equities research analysts predict that Forward Air will post 2.34 earnings per share for the current year.
In related news, CEO Bruce A. Campbell sold 500 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $55.45, for a total value of $27,725.00. Following the transaction, the chief executive officer now owns 153,454 shares of the company’s stock, valued at $8,509,024.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Bruce A. Campbell sold 34,281 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $55.01, for a total transaction of $1,885,797.81. Following the sale, the chairman now owns 155,831 shares in the company, valued at approximately $8,572,263.31. The disclosure for this sale can be found here. Insiders have sold a total of 93,549 shares of company stock worth $5,250,836 over the last three months. 2.40% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. increased its position in Forward Air by 0.9% in the second quarter. Pinebridge Investments L.P. now owns 3,980 shares of the transportation company’s stock worth $212,000 after purchasing an additional 36 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Forward Air by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 56,848 shares of the transportation company’s stock worth $3,029,000 after purchasing an additional 175 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Forward Air by 10.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,636 shares of the transportation company’s stock worth $140,000 after purchasing an additional 246 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Forward Air by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 23,271 shares of the transportation company’s stock worth $1,239,000 after purchasing an additional 270 shares during the last quarter. Finally, CS Mckee LP increased its position in Forward Air by 0.9% in the second quarter. CS Mckee LP now owns 32,300 shares of the transportation company’s stock worth $1,721,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 95.71% of the company’s stock.
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About Forward Air
Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.
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