BidaskClub Lowers Forward Air (FWRD) to Hold

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Forward Air (NASDAQ:FWRD) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

A number of other research analysts have also commented on FWRD. Zacks Investment Research lowered shares of Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. ValuEngine upgraded shares of Forward Air from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Forward Air currently has an average rating of “Hold” and a consensus target price of $68.75.

NASDAQ FWRD opened at $66.33 on Wednesday. Forward Air has a 12 month low of $51.54 and a 12 month high of $72.81. The company has a current ratio of 2.69, a quick ratio of 2.66 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.94 billion, a P/E ratio of 21.26 and a beta of 1.63.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. Forward Air had a net margin of 6.97% and a return on equity of 16.97%. The business had revenue of $321.47 million for the quarter, compared to analyst estimates of $324.22 million. During the same quarter last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts predict that Forward Air will post 3.4 EPS for the current fiscal year.

In related news, Chairman Bruce A. Campbell sold 8,240 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $65.20, for a total transaction of $537,248.00. Following the completion of the sale, the chairman now directly owns 93,732 shares in the company, valued at $6,111,326.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Chris C. Ruble sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $68.10, for a total transaction of $136,200.00. Following the sale, the chief operating officer now owns 26,363 shares of the company’s stock, valued at $1,795,320.30. The disclosure for this sale can be found here. Insiders have sold 43,087 shares of company stock worth $2,842,670 in the last quarter. Company insiders own 2.04% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Forward Air by 0.7% during the fourth quarter. BlackRock Inc. now owns 4,227,126 shares of the transportation company’s stock worth $231,857,000 after buying an additional 28,208 shares in the last quarter. Vanguard Group Inc boosted its holdings in Forward Air by 2.1% during the third quarter. Vanguard Group Inc now owns 2,917,550 shares of the transportation company’s stock worth $209,189,000 after buying an additional 59,982 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Forward Air by 2.1% during the third quarter. Vanguard Group Inc. now owns 2,917,550 shares of the transportation company’s stock worth $209,189,000 after buying an additional 59,982 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Forward Air by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,296,860 shares of the transportation company’s stock worth $71,133,000 after buying an additional 7,101 shares in the last quarter. Finally, Norges Bank bought a new stake in Forward Air during the fourth quarter worth approximately $26,713,000. Hedge funds and other institutional investors own 97.14% of the company’s stock.

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 four segments: Expedited Less-Than-Truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).

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