The Forward Air Corporation (FWRD) Stock Rating Lowered by TheStreet, Report finds

The Forward Air Corporation (FWRD) Stock Rating Lowered by TheStreet, Report finds

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.

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