Forward Air Co. (NASDAQ:FWRD) has been given an average recommendation of “Buy” by the seven analysts that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $69.33.
Several equities research analysts recently issued reports on the stock. BidaskClub raised shares of Forward Air from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 29th. Zacks Investment Research lowered shares of Forward Air from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Deutsche Bank set a $73.00 price objective on shares of Forward Air and gave the stock a “buy” rating in a report on Thursday, September 27th. ValuEngine raised shares of Forward Air from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Finally, Stephens set a $70.00 price objective on shares of Forward Air and gave the stock a “buy” rating in a report on Friday, July 27th.
In other news, Chairman Bruce A. Campbell sold 8,523 shares of Forward Air stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $64.51, for a total value of $549,818.73. Following the completion of the transaction, the chairman now directly owns 138,175 shares of the company’s stock, valued at approximately $8,913,669.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Bruce A. Campbell sold 8,790 shares of Forward Air stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $64.53, for a total transaction of $567,218.70. Following the completion of the transaction, the chairman now directly owns 138,442 shares of the company’s stock, valued at $8,933,662.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,985 shares of company stock valued at $2,310,672. 1.95% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Icon Advisers Inc. Co. acquired a new position in shares of Forward Air in the 3rd quarter valued at about $509,000. Kaizen Advisory LLC acquired a new position in shares of Forward Air in the 3rd quarter valued at about $1,159,000. Victory Capital Management Inc. boosted its holdings in shares of Forward Air by 18.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,192,218 shares of the transportation company’s stock valued at $85,482,000 after buying an additional 188,810 shares during the period. US Bancorp DE boosted its holdings in shares of Forward Air by 37.8% in the 3rd quarter. US Bancorp DE now owns 6,502 shares of the transportation company’s stock valued at $466,000 after buying an additional 1,783 shares during the period. Finally, Moody Aldrich Partners LLC boosted its holdings in shares of Forward Air by 19.0% in the 3rd quarter. Moody Aldrich Partners LLC now owns 54,563 shares of the transportation company’s stock valued at $3,912,000 after buying an additional 8,724 shares during the period. 94.12% of the stock is owned by institutional investors and hedge funds.
Forward Air stock traded down $0.27 during midday trading on Monday, hitting $60.01. 2,089 shares of the stock were exchanged, compared to its average volume of 183,208. Forward Air has a 1 year low of $49.88 and a 1 year high of $72.81. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 25.44 and a beta of 1.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.66 and a quick ratio of 2.66.
Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. Forward Air had a net margin of 7.85% and a return on equity of 15.63%. The firm had revenue of $331.38 million for the quarter, compared to the consensus estimate of $327.81 million. Analysts forecast that Forward Air will post 3.03 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be issued a dividend of $0.18 per share. This is a positive change from Forward Air’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, November 21st. Forward Air’s dividend payout ratio (DPR) is currently 25.42%.
Forward Air Company Profile
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-than-truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).
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