FWRD has been the subject of several other research reports. Zacks Investment Research raised shares of Forward Air Corporation from a “sell” rating to a “hold” rating in a report on Monday, December 26th. Robert W. Baird lowered shares of Forward Air Corporation from an “outperform” rating to a “neutral” rating and set a $49.00 price target for the company. in a report on Friday, December 2nd. Wolfe Research raised shares of Forward Air Corporation from a “market perform” rating to an “outperform” rating in a report on Friday, January 6th. Finally, Cowen and Company cut their price target on shares of Forward Air Corporation from $48.00 to $45.00 and set a “market perform” rating for the company in a report on Friday, October 21st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Forward Air Corporation currently has a consensus rating of “Hold” and a consensus target price of $48.67.
Forward Air Corporation (NASDAQ:FWRD) was downgraded by equities researchers at TheStreet from a “b” rating to a “c+” rating in a research report issued to clients and investors on Wednesday.
Forward Air Corporation (NASDAQ:FWRD) opened at 49.66 on Wednesday. The firm has a 50-day moving average of $48.60 and a 200 day moving average of $46.27. Forward Air Corporation has a one year low of $36.67 and a one year high of $51.51. The company has a market capitalization of $1.52 billion, a P/E ratio of 55.18 and a beta of 1.05.
Forward Air Corporation (NASDAQ:FWRD) last posted its earnings results on Wednesday, February 8th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.03. The firm earned $264.80 million during the quarter, compared to analyst estimates of $256.53 million. Forward Air Corporation had a net margin of 2.82% and a return on equity of 12.77%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. On average, equities analysts forecast that Forward Air Corporation will post $2.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Thursday, March 9th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, March 7th. This represents a $0.60 annualized dividend and a yield of 1.21%. Forward Air Corporation’s dividend payout ratio (DPR) is presently 65.93%.
In other Forward Air Corporation news, Director C Robert Campbell sold 4,000 shares of Forward Air Corporation stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $47.78, for a total transaction of $191,120.00. Following the sale, the director now owns 19,684 shares of the company’s stock, valued at approximately $940,501.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Rodney L. Bell sold 21,640 shares of Forward Air Corporation stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $48.31, for a total transaction of $1,045,428.40. Following the sale, the insider now directly owns 61,445 shares in the company, valued at approximately $2,968,407.95. The disclosure for this sale can be found here. Insiders own 3.35% of the company’s stock.
Large investors have recently made changes to their positions in the company. Elkfork Partners LLC acquired a new stake in shares of Forward Air Corporation during the fourth quarter valued at about $106,000. Teacher Retirement System of Texas boosted its position in shares of Forward Air Corporation by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 4,313 shares of the company’s stock valued at $192,000 after buying an additional 517 shares during the last quarter. Argentus Capital Management LLC boosted its position in shares of Forward Air Corporation by 12.5% in the third quarter. Argentus Capital Management LLC now owns 4,838 shares of the company’s stock valued at $209,000 after buying an additional 538 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Forward Air Corporation during the third quarter valued at $268,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Forward Air Corporation during the third quarter valued at $290,000. 95.88% of the stock is currently owned by institutional investors.
Forward Air Corporation Company Profile
Forward Air Corporation offers services, which are classified into three segments: Forward Air, Forward Air Solutions (FASI) and Total Quality (TQI). The Company, through its three segments, offers a range of logistic and other services, including expedited full truckload (TLX), pick-up and delivery (Forward Air Complete), pool distribution, temperature-controlled truckload, warehousing, customs brokerage and shipment consolidation and handling.