Forward Air Co. (FWRD) Receives Average Recommendation of “Buy” from Analysts

Forward Air Co. (NASDAQ:FWRD) has received an average rating of “Buy” from the nine analysts that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $66.20.

A number of equities analysts recently commented on FWRD shares. BidaskClub lowered shares of Forward Air from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Zacks Investment Research raised shares of Forward Air from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, June 19th. ValuEngine raised shares of Forward Air from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Deutsche Bank started coverage on shares of Forward Air in a research report on Tuesday, September 4th. They set a “buy” rating and a $72.00 price target on the stock. Finally, Stifel Nicolaus raised their price target on shares of Forward Air from $64.00 to $68.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th.

In other Forward Air news, Chairman Bruce A. Campbell sold 8,627 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $65.57, for a total value of $565,672.39. Following the transaction, the chairman now directly owns 137,866 shares of the company’s stock, valued at approximately $9,039,873.62. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Glenn A. Adelaar sold 14,397 shares of the firm’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $62.26, for a total transaction of $896,357.22. Following the completion of the transaction, the vice president now directly owns 41,852 shares in the company, valued at $2,605,705.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,417 shares of company stock worth $3,213,107. Insiders own 1.95% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. boosted its position in Forward Air by 1,075.0% during the 1st quarter. Sei Investments Co. now owns 2,256 shares of the transportation company’s stock worth $119,000 after buying an additional 2,064 shares during the period. Sun Life Financial INC acquired a new stake in Forward Air during the 2nd quarter worth approximately $142,000. Royal Bank of Canada boosted its position in Forward Air by 281.0% during the 1st quarter. Royal Bank of Canada now owns 2,995 shares of the transportation company’s stock worth $159,000 after buying an additional 2,209 shares during the period. Bruderman Asset Management LLC acquired a new stake in Forward Air during the 1st quarter worth approximately $166,000. Finally, Pitcairn Co. acquired a new stake in Forward Air during the 1st quarter worth approximately $273,000. Institutional investors own 95.08% of the company’s stock.

Shares of FWRD traded up $2.25 during trading hours on Friday, hitting $68.61. The company had a trading volume of 504,324 shares, compared to its average volume of 118,042. Forward Air has a 12 month low of $49.88 and a 12 month high of $68.67. The firm has a market capitalization of $1.94 billion, a PE ratio of 29.07 and a beta of 1.42. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.78 and a quick ratio of 2.78.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, July 25th. The transportation company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Forward Air had a net margin of 7.84% and a return on equity of 15.16%. The business had revenue of $330.30 million for the quarter, compared to analyst estimates of $314.08 million. During the same period last year, the firm earned $0.64 earnings per share. Forward Air’s revenue for the quarter was up 16.3% compared to the same quarter last year. analysts predict that Forward Air will post 3.12 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Thursday, August 23rd were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.87%. The ex-dividend date was Wednesday, August 22nd. Forward Air’s dividend payout ratio 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).

See Also: Index Funds

Analyst Recommendations for Forward Air (NASDAQ:FWRD)

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.

Leave a Reply