Forward Air Co. (NASDAQ:FWRD) Receives $60.67 Average Price Target from Analysts

Forward Air Co. (NASDAQ:FWRD) has received a consensus rating of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $60.67.

FWRD has been the topic of several analyst reports. Robert W. Baird lowered their price target on shares of Forward Air from $60.00 to $54.00 and set an “outperformer” rating on the stock in a report on Monday, May 4th. Zacks Investment Research raised shares of Forward Air from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 8th. BidaskClub raised shares of Forward Air from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Wolfe Research raised shares of Forward Air from an “underperform” rating to a “peer perform” rating in a report on Tuesday, June 9th. Finally, Stifel Nicolaus upped their target price on shares of Forward Air from $45.00 to $52.00 and gave the stock a “hold” rating in a report on Friday, July 24th.

Shares of FWRD opened at $51.99 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market capitalization of $1.45 billion, a PE ratio of 25.49 and a beta of 1.16. The company’s 50 day moving average price is $49.20 and its 200 day moving average price is $53.59. Forward Air has a 52 week low of $39.59 and a 52 week high of $72.09.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings data on Thursday, July 30th. The transportation company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.01). Forward Air had a return on equity of 11.26% and a net margin of 4.23%. The firm had revenue of $281.68 million during the quarter, compared to analyst estimates of $276.98 million. On average, equities analysts forecast that Forward Air will post 1.48 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Thursday, August 20th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.72 annualized dividend and a yield of 1.38%. Forward Air’s dividend payout ratio (DPR) is 23.68%.

A number of hedge funds and other institutional investors have recently modified their holdings of FWRD. Ellevest Inc. lifted its position in Forward Air by 2,230.0% during the 2nd quarter. Ellevest Inc. now owns 699 shares of the transportation company’s stock worth $35,000 after buying an additional 669 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in Forward Air by 23.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 1,231 shares of the transportation company’s stock worth $62,000 after buying an additional 233 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Forward Air by 41.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,481 shares of the transportation company’s stock worth $126,000 after buying an additional 728 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Forward Air by 26.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,139 shares of the transportation company’s stock worth $156,000 after buying an additional 658 shares in the last quarter. Finally, IndexIQ Advisors LLC acquired a new position in Forward Air during the 1st quarter worth about $183,000. Institutional investors and hedge funds own 95.59% 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).

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