Analysts Set Forward Air Co. (NASDAQ:FWRD) Target Price at $51.00

Shares of Forward Air Co. (NASDAQ:FWRD) have been given an average recommendation of “Hold” by the five research firms that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $51.00.

FWRD has been the topic of a number of research analyst reports. Robert W. Baird increased their price target on Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Benchmark restated a “hold” rating on shares of Forward Air in a research note on Monday, August 12th.

Forward Air Trading Up 3.9 %

NASDAQ FWRD opened at $35.39 on Tuesday. The company has a market cap of $935.64 million, a PE ratio of 10.35 and a beta of 1.02. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 4.70. Forward Air has a 12 month low of $11.21 and a 12 month high of $79.51. The stock has a 50 day moving average of $31.09 and a 200-day moving average of $25.03.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings results on Wednesday, August 7th. The transportation company reported ($23.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($23.11). Forward Air had a negative net margin of 30.77% and a negative return on equity of 79.11%. The business had revenue of $643.67 million during the quarter, compared to the consensus estimate of $642.92 million. During the same quarter last year, the company posted $0.91 EPS. The firm’s revenue was up 92.9% on a year-over-year basis. On average, equities research analysts anticipate that Forward Air will post -1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FWRD. UMB Bank n.a. boosted its stake in Forward Air by 413.5% in the first quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock valued at $26,000 after buying an additional 674 shares in the last quarter. TFO Wealth Partners LLC boosted 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 in the last quarter. Point72 DIFC Ltd acquired a new stake in Forward Air in the second quarter valued at about $26,000. Headlands Technologies LLC boosted its stake in Forward Air by 98.5% in the first quarter. Headlands Technologies LLC now owns 1,634 shares of the transportation company’s stock valued at $51,000 after buying an additional 811 shares in the last quarter. Finally, Gladius Capital Management LP boosted its stake in Forward Air by 33.5% in the second quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock valued at $37,000 after buying an additional 493 shares in the last quarter. 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.