Forward Air Co. (NASDAQ:FWRD) has been given a consensus rating of “Hold” by the eight analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $64.00.
Several equities analysts recently issued reports on the company. BidaskClub upgraded Forward Air from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 9th. Stifel Nicolaus upgraded Forward Air from a “hold” rating to a “buy” rating and raised their price target for the company from $62.00 to $64.00 in a report on Thursday, April 26th. Stephens set a $74.00 price target on Forward Air and gave the company a “buy” rating in a report on Friday, February 9th. Zacks Investment Research upgraded Forward Air from a “sell” rating to a “hold” rating in a report on Friday, April 27th. Finally, Robert W. Baird upgraded Forward Air from a “neutral” rating to an “outperform” rating in a report on Thursday, January 18th.
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Forward Air stock opened at $57.56 on Monday. The stock has a market capitalization of $1.68 billion, a P/E ratio of 24.39 and a beta of 1.26. Forward Air has a 12-month low of $56.47 and a 12-month high of $57.49. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.08.
Forward Air (NASDAQ:FWRD) last posted its quarterly earnings results on Wednesday, April 25th. The transportation company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $302.60 million for the quarter, compared to analysts’ expectations of $291.73 million. Forward Air had a return on equity of 14.41% and a net margin of 7.85%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 earnings per share. equities analysts predict that Forward Air will post 3.01 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Friday, May 25th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, May 24th. Forward Air’s dividend payout ratio (DPR) is currently 25.42%.
In other Forward Air news, Director George M. Lynch sold 2,443 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $55.47, for a total transaction of $135,513.21. Following the transaction, the director now owns 9,940 shares in the company, valued at $551,371.80. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.95% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC boosted its holdings in Forward Air by 22.7% during the fourth quarter. Millennium Management LLC now owns 173,348 shares of the transportation company’s stock worth $9,957,000 after buying an additional 32,092 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Forward Air by 8.6% during the fourth quarter. California Public Employees Retirement System now owns 64,650 shares of the transportation company’s stock worth $3,713,000 after purchasing an additional 5,132 shares during the period. Advisor Group Inc. raised its position in shares of Forward Air by 138.7% during the fourth quarter. Advisor Group Inc. now owns 2,626 shares of the transportation company’s stock worth $151,000 after purchasing an additional 1,526 shares during the period. Pinebridge Investments L.P. raised its position in shares of Forward Air by 180.7% during the fourth quarter. Pinebridge Investments L.P. now owns 10,555 shares of the transportation company’s stock worth $606,000 after purchasing an additional 6,795 shares during the period. Finally, Paloma Partners Management Co raised its position in shares of Forward Air by 142.8% during the fourth quarter. Paloma Partners Management Co now owns 8,710 shares of the transportation company’s stock worth $500,000 after purchasing an additional 5,122 shares during the period. Hedge funds and other institutional investors own 97.77% 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 State and Canada. The company operates through four segments: Expedited Less-than-truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).