Stephens Analysts Give Forward Air (FWRD) a $74.00 Price Target
Forward Air (NASDAQ:FWRD) received a $74.00 price objective from stock analysts at Stephens in a research note issued on Friday. The brokerage currently has a “buy” rating on the transportation company’s stock. Stephens’ price target points to a potential upside of 34.72% from the company’s previous close.
Several other equities research analysts have also commented on FWRD. Robert W. Baird raised Forward Air from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 18th. BidaskClub raised Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Stifel Nicolaus boosted their price target on Forward Air from $47.00 to $52.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Zacks Investment Research lowered Forward Air from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Finally, Cowen reissued a “market perform” rating and set a $54.00 price target (up previously from $51.00) on shares of Forward Air in a research note on Monday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Forward Air has a consensus rating of “Hold” and a consensus price target of $61.40.
Shares of Forward Air (NASDAQ FWRD) opened at $54.93 on Friday. The company has a market capitalization of $1,627.65, a P/E ratio of 19.01 and a beta of 1.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.71. Forward Air has a 52 week low of $45.86 and a 52 week high of $64.80.
In related news, Chairman Bruce A. Campbell sold 5,264 shares of Forward Air stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $55.43, for a total transaction of $291,783.52. Following the completion of the transaction, the chairman now directly owns 153,454 shares in the company, valued at approximately $8,505,955.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bruce A. Campbell sold 500 shares of Forward Air stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $55.45, for a total value of $27,725.00. Following the transaction, the chief executive officer now owns 153,454 shares of the company’s stock, valued at $8,509,024.30. The disclosure for this sale can be found here. Insiders have sold a total of 91,909 shares of company stock valued at $5,157,356 over the last 90 days. Insiders own 2.40% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers raised its position in shares of Forward Air by 2.8% during the 3rd quarter. Rhumbline Advisers now owns 69,070 shares of the transportation company’s stock worth $3,953,000 after purchasing an additional 1,882 shares during the last quarter. Atlantic Trust Group LLC acquired a new position in Forward Air in the 3rd quarter valued at $1,388,000. Confluence Investment Management LLC raised its holdings in Forward Air by 3.0% in the 4th quarter. Confluence Investment Management LLC now owns 79,894 shares of the transportation company’s stock valued at $4,589,000 after acquiring an additional 2,352 shares during the last quarter. APG Asset Management N.V. acquired a new position in Forward Air in the 3rd quarter valued at $515,000. Finally, Cambiar Investors LLC acquired a new position in Forward Air in the 3rd quarter valued at $8,421,000. Hedge funds and other institutional investors own 95.88% of the company’s stock.
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Forward Air Company Profile
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.
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