Wolfe Research downgraded shares of Forward Air (NASDAQ:FWRD) from an outperform rating to a peer perform rating in a research note issued to investors on Thursday morning, PriceTargets.com reports.
A number of other equities research analysts have also recently weighed in on the stock. Stephens raised shares of Forward Air from an equal weight rating to an overweight rating and boosted their price target for the company from $115.00 to $165.00 in a research report on Tuesday, January 4th. Susquehanna initiated coverage on Forward Air in a report on Thursday, December 9th. They issued a positive rating and a $132.00 target price for the company. Susquehanna Bancshares initiated coverage on Forward Air in a research note on Thursday, December 9th. They set a positive rating and a $132.00 price target on the stock. Robert W. Baird cut Forward Air from an outperform rating to a neutral rating and boosted their price objective for the company from $110.00 to $125.00 in a research note on Wednesday, January 5th. Finally, Raymond James increased their price objective on Forward Air from $135.00 to $145.00 and gave the company a strong-buy rating in a report on Thursday, December 30th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Forward Air currently has an average rating of Buy and a consensus target price of $131.57.
NASDAQ:FWRD opened at $114.48 on Thursday. Forward Air has a 1 year low of $70.93 and a 1 year high of $125.71. The stock has a market cap of $3.09 billion, a P/E ratio of 52.04 and a beta of 1.21. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a 50-day simple moving average of $110.23 and a 200-day simple moving average of $95.74.
Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Tuesday, October 26th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. Forward Air had a net margin of 3.93% and a return on equity of 17.06%. The company had revenue of $419.63 million for the quarter, compared to analysts’ expectations of $423.53 million. During the same quarter last year, the company earned $0.61 earnings per share. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, equities research analysts predict that Forward Air will post 4.13 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 9th. Shareholders of record on Wednesday, November 24th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.73%. The ex-dividend date was Tuesday, November 23rd. Forward Air’s dividend payout ratio is presently 38.18%.
In other news, insider Michael L. Hance sold 3,379 shares of the business’s stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $104.68, for a total value of $353,713.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FWRD. PNC Financial Services Group Inc. boosted its holdings in Forward Air by 1.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,395 shares of the transportation company’s stock valued at $754,000 after purchasing an additional 117 shares in the last quarter. Liberty Wealth Management LLC boosted its stake in shares of Forward Air by 100.0% in the third quarter. Liberty Wealth Management LLC now owns 360 shares of the transportation company’s stock valued at $34,000 after buying an additional 180 shares in the last quarter. Clifford Capital Partners LLC grew its holdings in Forward Air by 3.5% during the third quarter. Clifford Capital Partners LLC now owns 5,509 shares of the transportation company’s stock worth $457,000 after acquiring an additional 185 shares during the period. Mutual of America Capital Management LLC raised its position in Forward Air by 5.7% in the second quarter. Mutual of America Capital Management LLC now owns 3,884 shares of the transportation company’s stock worth $349,000 after acquiring an additional 208 shares in the last quarter. Finally, Isthmus Partners LLC raised its position in Forward Air by 1.1% in the second quarter. Isthmus Partners LLC now owns 19,779 shares of the transportation company’s stock worth $1,775,000 after acquiring an additional 217 shares in the last quarter. Institutional investors own 97.19% of the company’s stock.
Forward Air Company Profile
Forward Air Corp. engages in the provision of less-than-truckload (LTL), truckload, intermodal and pool distribution services. It operates through the following segments: Expedited LTL and Intermodal. The Expedited LTL segment provides expedited regional, inter-regional and national LTL, final mile and truckload services.
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