Wolfe Research upgraded shares of Forward Air (NASDAQ:FWRD) from a peer perform rating to an outperform rating in a research note published on Tuesday, Price Targets.com reports. Wolfe Research currently has $101.00 target price on the transportation company’s stock.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Forward Air from a buy rating to a hold rating in a research note on Friday, February 12th. Stifel Nicolaus raised their target price on Forward Air from $58.00 to $61.00 and gave the company a hold rating in a research note on Monday, November 2nd. Finally, Raymond James raised their target price on Forward Air from $80.00 to $95.00 and gave the company an outperform rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $81.00.
Shares of FWRD opened at $87.61 on Tuesday. The business’s fifty day moving average price is $78.78 and its 200 day moving average price is $67.85. Forward Air has a 12-month low of $39.59 and a 12-month high of $88.67. The stock has a market capitalization of $2.41 billion, a PE ratio of 47.10 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.50 and a quick ratio of 1.50.
Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Wednesday, February 10th. The transportation company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.90). Forward Air had a return on equity of 10.39% and a net margin of 3.91%. As a group, research analysts anticipate that Forward Air will post 1.96 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 19th. Stockholders of record on Thursday, March 4th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Wednesday, March 3rd. Forward Air’s dividend payout ratio (DPR) is 27.63%.
In other news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 25th. The stock was sold at an average price of $75.75, for a total transaction of $227,250.00. Following the transaction, the director now directly owns 20,185 shares of the company’s stock, valued at $1,529,013.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Chris C. Ruble sold 2,621 shares of the firm’s stock in a transaction on Tuesday, December 1st. The shares were sold at an average price of $74.13, for a total value of $194,294.73. Following the transaction, the chief operating officer now directly owns 29,358 shares in the company, valued at $2,176,308.54. The disclosure for this sale can be found here. Insiders have sold 27,365 shares of company stock worth $2,030,700 over the last three months. Corporate insiders own 1.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP grew its holdings in Forward Air by 83.5% during the third quarter. First Trust Advisors LP now owns 20,248 shares of the transportation company’s stock worth $1,162,000 after acquiring an additional 9,216 shares during the period. Great West Life Assurance Co. Can grew its holdings in Forward Air by 302.4% during the third quarter. Great West Life Assurance Co. Can now owns 138,916 shares of the transportation company’s stock worth $1,372,000 after acquiring an additional 104,395 shares during the period. Scout Investments Inc. grew its holdings in Forward Air by 3.4% during the fourth quarter. Scout Investments Inc. now owns 89,129 shares of the transportation company’s stock worth $6,849,000 after acquiring an additional 2,900 shares during the period. Nisa Investment Advisors LLC increased its stake in Forward Air by 72.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,025 shares of the transportation company’s stock worth $116,000 after purchasing an additional 850 shares in the last quarter. Finally, Swiss National Bank increased its stake in Forward Air by 1.0% in the 3rd quarter. Swiss National Bank now owns 63,400 shares of the transportation company’s stock worth $3,638,000 after purchasing an additional 600 shares in the last quarter. 95.80% of the stock is currently owned by hedge funds and other 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 State and Canada. The company operates through three segments: Expedited Freight, Intermodal, and Pool Distribution. 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 final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.
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