Forward Air (NASDAQ:FWRD) Sets New 52-Week Low at $20.95

Forward Air Co. (NASDAQ:FWRD)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $20.95 and last traded at $21.12, with a volume of 590981 shares changing hands. The stock had previously closed at $21.05.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FWRD shares. Benchmark restated a “hold” rating on shares of Forward Air in a research note on Wednesday, April 24th. Stifel Nicolaus cut their target price on shares of Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a research note on Monday, January 22nd. StockNews.com downgraded Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, March 18th. Wolfe Research cut Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective on the stock. in a research note on Wednesday, January 10th. Finally, Robert W. Baird reduced their target price on Forward Air from $50.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Forward Air currently has an average rating of “Hold” and an average target price of $80.14.

Forward Air Trading Up 3.1 %

The firm has a 50-day moving average of $28.03 and a 200 day moving average of $48.27. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $574.34 million, a price-to-earnings ratio of 3.39 and a beta of 1.06.

Forward Air (NASDAQ:FWRD) last released its earnings results on Thursday, February 29th. The transportation company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.16). Forward Air had a return on equity of 15.30% and a net margin of 10.58%. The firm had revenue of $338.43 million during the quarter, compared to analyst estimates of $406.96 million. During the same quarter last year, the company earned $1.65 earnings per share. The business’s revenue for the quarter was down 16.0% on a year-over-year basis. As a group, equities analysts predict that Forward Air Co. will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Forward Air

Several hedge funds and other institutional investors have recently bought and sold shares of FWRD. Vanguard Group Inc. raised its holdings in shares of Forward Air by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 2,982,873 shares of the transportation company’s stock worth $187,533,000 after purchasing an additional 63,322 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Forward Air by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 803,393 shares of the transportation company’s stock valued at $50,511,000 after acquiring an additional 25,523 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Forward Air by 15,487.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 726,538 shares of the transportation company’s stock valued at $49,942,000 after acquiring an additional 721,877 shares during the last quarter. Norges Bank bought a new stake in shares of Forward Air during the 4th quarter worth $43,281,000. Finally, UBS Group AG grew its holdings in shares of Forward Air by 809.8% in the 3rd quarter. UBS Group AG now owns 683,566 shares of the transportation company’s stock worth $46,988,000 after acquiring an additional 608,430 shares during the last quarter. 97.03% of the stock is currently owned by 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.