Forward Air (NASDAQ:FWRD) Receives Hold Rating from Benchmark

Benchmark reissued their hold rating on shares of Forward Air (NASDAQ:FWRD) in a research report released on Wednesday, Benzinga reports.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus dropped their price target on Forward Air from $80.00 to $55.00 and set a hold rating on the stock in a research report on Monday, January 22nd. Wolfe Research downgraded Forward Air from a peer perform rating to an underperform rating and set a $50.00 price target on the stock. in a research report on Wednesday, January 10th. StockNews.com downgraded Forward Air from a hold rating to a sell rating in a research report on Monday, March 18th. Finally, Robert W. Baird dropped their price target on Forward Air from $50.00 to $40.00 and set a neutral rating on the stock in a research report on Friday, March 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $80.14.

Forward Air Stock Performance

Shares of Forward Air stock opened at $23.30 on Wednesday. The stock’s fifty day moving average is $30.90 and its two-hundred day moving average is $50.78. The company has a market capitalization of $614.42 million, a PE ratio of 3.63 and a beta of 0.98. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 2.38. Forward Air has a 52 week low of $22.08 and a 52 week high of $121.38.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Thursday, February 29th. The transportation company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.16). The business had revenue of $338.43 million during the quarter, compared to the consensus estimate of $406.96 million. Forward Air had a net margin of 10.58% and a return on equity of 15.30%. The business’s revenue was down 16.0% compared to the same quarter last year. During the same period last year, the company earned $1.65 EPS. As a group, analysts expect that Forward Air will post 0.56 earnings per share for the current year.

Institutional Investors Weigh In On Forward Air

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC raised its stake in Forward Air by 86.9% in the third quarter. CWM LLC now owns 669 shares of the transportation company’s stock valued at $46,000 after buying an additional 311 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Forward Air in the fourth quarter valued at about $52,000. Signaturefd LLC raised its stake in Forward Air by 306.9% in the third quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock valued at $65,000 after buying an additional 715 shares during the last quarter. TFO Wealth Partners LLC raised its stake in Forward Air by 116,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock valued at $73,000 after buying an additional 1,162 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in Forward Air in the fourth quarter valued at about $99,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Forward Air Company Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.