Shares of Forward Air Co. (NASDAQ:FWRD) have been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $70.00.
A number of research firms recently commented on FWRD. Deutsche Bank lifted their target price on shares of Rockwell Automation from $173.00 to $186.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. BidaskClub cut shares of ZIX from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th. Finally, Zacks Investment Research cut shares of General Finance from a “buy” rating to a “hold” rating in a research note on Monday.
NASDAQ FWRD traded up $0.27 during trading on Friday, reaching $60.07. 3,539 shares of the company’s stock traded hands, compared to its average volume of 157,398. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 19.26 and a beta of 1.55. The company has a 50 day simple moving average of $58.36. Forward Air has a 12-month low of $51.54 and a 12-month high of $72.81.
Forward Air (NASDAQ:FWRD) last posted its earnings results on Wednesday, April 24th. The transportation company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Forward Air had a net margin of 6.92% and a return on equity of 16.88%. The business had revenue of $321.47 million for the quarter, compared to the consensus estimate of $324.22 million. During the same quarter last year, the firm posted $0.60 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, analysts predict that Forward Air will post 3.26 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Forward Air during the 4th quarter valued at approximately $26,713,000. Clearbridge Investments LLC increased its holdings in Forward Air by 42.6% in the 1st quarter. Clearbridge Investments LLC now owns 720,663 shares of the transportation company’s stock worth $46,649,000 after acquiring an additional 215,206 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Forward Air by 15.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,201,653 shares of the transportation company’s stock worth $77,783,000 after acquiring an additional 157,120 shares in the last quarter. Tributary Capital Management LLC increased its holdings in Forward Air by 13.0% in the 1st quarter. Tributary Capital Management LLC now owns 436,404 shares of the transportation company’s stock worth $28,248,000 after acquiring an additional 50,208 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Forward Air by 35.4% in the 4th quarter. Bank of America Corp DE now owns 149,976 shares of the transportation company’s stock worth $8,226,000 after acquiring an additional 39,210 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.
About Forward Air
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).
See Also: How is diluted EPS different from basic EPS?
Receive News & Ratings for Forward Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air and related companies with MarketBeat.com's FREE daily email newsletter.