Robert W. Baird Boosts Forward Air (NASDAQ:FWRD) Price Target to $17.00

Forward Air (NASDAQ:FWRD) had its price objective hoisted by analysts at Robert W. Baird from $14.00 to $17.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Robert W. Baird’s price target indicates a potential downside of 12.60% from the company’s current price.

A number of other research analysts have also weighed in on FWRD. Wolfe Research raised Forward Air from an “underperform” rating to a “peer perform” rating in a report on Tuesday, May 28th. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a report on Wednesday, April 24th. Finally, StockNews.com lowered Forward Air from a “hold” rating to a “sell” rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $76.86.

Forward Air Trading Up 0.6 %

NASDAQ FWRD opened at $19.45 on Wednesday. The stock has a market capitalization of $514.26 million, a price-to-earnings ratio of 5.69 and a beta of 1.00. Forward Air has a one year low of $11.21 and a one year high of $121.38. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.28 and a quick ratio of 1.28. The business’s fifty day moving average is $18.36 and its 200-day moving average is $33.33.

Forward Air (NASDAQ:FWRD) last released its earnings results on Wednesday, May 8th. The transportation company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.49). Forward Air had a return on equity of 5.37% and a net margin of 4.08%. The business had revenue of $541.81 million for the quarter, compared to the consensus estimate of $644.00 million. During the same quarter in the previous year, the firm earned $1.37 earnings per share. Equities research analysts predict that Forward Air will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new position in shares of Forward Air during the fourth quarter worth about $52,000. UMB Bank n.a. grew its holdings in shares of Forward Air by 413.5% during the first quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock worth $26,000 after purchasing an additional 674 shares in the last quarter. TFO Wealth Partners LLC grew its holdings in shares of Forward Air by 116,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock worth $73,000 after purchasing an additional 1,162 shares in the last quarter. Anchor Investment Management LLC purchased a new position in shares of Forward Air during the fourth quarter worth about $99,000. Finally, GAMMA Investing LLC grew its holdings in shares of Forward Air by 2,329.3% during the second quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock worth $38,000 after purchasing an additional 1,910 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

About Forward Air

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.