Forward Air Corporation (FWRD) Given Consensus Rating of “Hold” by Analysts
Forward Air Corporation (NASDAQ:FWRD) has been assigned a consensus recommendation of “Hold” from the eight analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $49.00.
FWRD has been the subject of several recent research reports. Zacks Investment Research lowered Forward Air Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. BidaskClub raised Forward Air Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Cowen and Company reissued a “hold” rating and issued a $51.00 price target on shares of Forward Air Corporation in a research report on Thursday, August 10th. Finally, Wolfe Research lowered Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st.
Forward Air Corporation (NASDAQ FWRD) traded up 0.42% during trading on Wednesday, reaching $52.07. The company’s stock had a trading volume of 39,710 shares. Forward Air Corporation has a 12-month low of $40.07 and a 12-month high of $56.52. The firm’s 50-day moving average price is $51.73 and its 200 day moving average price is $50.80. The company has a market capitalization of $1.58 billion, a P/E ratio of 27.23 and a beta of 1.07.
Forward Air Corporation (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.06. The firm had revenue of $267.50 million during the quarter, compared to analyst estimates of $256.98 million. Forward Air Corporation had a return on equity of 13.31% and a net margin of 5.68%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS. On average, analysts predict that Forward Air Corporation will post $2.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Wednesday, August 23rd. Forward Air Corporation’s payout ratio is 31.25%.
In related news, CAO Michael P. Mclean sold 15,718 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $51.05, for a total transaction of $802,403.90. Following the transaction, the chief accounting officer now directly owns 20,559 shares of the company’s stock, valued at approximately $1,049,536.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 1,718 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $52.99, for a total value of $91,036.82. Following the transaction, the director now directly owns 19,652 shares in the company, valued at $1,041,359.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,931 shares of company stock valued at $1,183,921. Corporate insiders own 2.40% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC increased its position in Forward Air Corporation by 72.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,897 shares of the transportation company’s stock valued at $101,000 after buying an additional 797 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Forward Air Corporation during the 1st quarter valued at about $114,000. Huntington National Bank increased its position in Forward Air Corporation by 8.1% during the 2nd quarter. Huntington National Bank now owns 2,204 shares of the transportation company’s stock valued at $117,000 after buying an additional 165 shares in the last quarter. Quantbot Technologies LP acquired a new position in Forward Air Corporation during the 2nd quarter valued at about $117,000. Finally, TrimTabs Asset Management LLC increased its position in Forward Air Corporation by 88.9% during the 1st quarter. TrimTabs Asset Management LLC now owns 2,482 shares of the transportation company’s stock valued at $118,000 after buying an additional 1,168 shares in the last quarter. 96.20% of the stock is currently owned by institutional investors.
About Forward Air Corporation
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.
Receive News & Ratings for Forward Air Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.