Forward Air (NASDAQ:FWRD) Sets New 52-Week Low at $20.50

Forward Air Co. (NASDAQ:FWRD)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $20.50 and last traded at $21.19, with a volume of 52380 shares traded. The stock had previously closed at $20.91.

Analysts Set New Price Targets

Several research analysts recently commented on FWRD shares. StockNews.com cut Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, March 18th. Stifel Nicolaus cut their price objective on Forward Air from $80.00 to $55.00 and set a “hold” rating for the company in a 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 objective for the company. in a research report on Wednesday, January 10th. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a report on Wednesday, April 24th. Finally, Robert W. Baird lowered their price objective on shares of Forward Air from $50.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, March 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $80.14.

Forward Air Stock Performance

The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 2.38. The company has a market capitalization of $555.35 million, a PE ratio of 3.27 and a beta of 1.06. The business has a 50 day simple moving average of $27.27 and a 200 day simple moving average of $47.10.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings data 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 net margin of 10.58% and a return on equity of 15.30%. The firm had revenue of $338.43 million during the quarter, compared to analyst estimates of $406.96 million. During the same period in the previous year, the firm posted $1.65 earnings per share. The company’s quarterly revenue was down 16.0% compared to the same quarter last year. Equities research analysts predict that Forward Air Co. will post 0.56 EPS for the current fiscal year.

Institutional Trading of Forward Air

Hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Forward Air by 15.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the transportation company’s stock worth $299,000 after buying an additional 588 shares in the last quarter. Strs Ohio increased its stake in shares of Forward Air by 1,700.0% in the 3rd quarter. Strs Ohio now owns 12,600 shares of the transportation company’s stock valued at $866,000 after purchasing an additional 11,900 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of Forward Air by 48.9% during the third quarter. Inspire Investing LLC now owns 4,478 shares of the transportation company’s stock valued at $308,000 after purchasing an additional 1,471 shares in the last quarter. Meritage Portfolio Management boosted its stake in shares of Forward Air by 48.0% in the 3rd quarter. Meritage Portfolio Management now owns 5,446 shares of the transportation company’s stock valued at $374,000 after purchasing an additional 1,767 shares during the last quarter. Finally, AlphaMark Advisors LLC bought a new position in Forward Air in the third quarter worth approximately $154,000. Institutional investors own 97.03% of the company’s stock.

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.