BidaskClub upgraded shares of Forward Air (NASDAQ:FWRD) from a strong sell rating to a sell rating in a research note published on Thursday morning.
A number of other equities research analysts have also recently commented on FWRD. Zacks Investment Research cut shares of Forward Air from a buy rating to a hold rating in a research note on Tuesday, March 13th. Stephens reaffirmed a buy rating and set a $80.00 price objective on shares of Forward Air in a research note on Wednesday, January 10th. Finally, Robert W. Baird raised shares of Forward Air from a neutral rating to an outperform rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $61.40.
Shares of Forward Air (NASDAQ:FWRD) opened at $55.78 on Thursday. The company has a market cap of $1,650.25, a P/E ratio of 23.64 and a beta of 1.24. Forward Air has a one year low of $45.86 and a one year high of $64.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.68 and a current ratio of 2.71.
Forward Air (NASDAQ:FWRD) last issued its quarterly earnings data on Wednesday, February 7th. The transportation company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $301.47 million. Forward Air had a net margin of 7.93% and a return on equity of 13.91%. The business’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company earned $0.58 EPS. research analysts forecast that Forward Air will post 2.99 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Thursday, March 8th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $0.60 dividend on an annualized basis and a yield of 1.08%. Forward Air’s dividend payout ratio is currently 20.76%.
In related news, Director George M. Lynch sold 2,443 shares of Forward Air stock in a transaction on Monday, February 26th. The shares were sold at an average price of $55.47, for a total value of $135,513.21. Following the sale, the director now owns 9,940 shares of the company’s stock, valued at approximately $551,371.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in FWRD. Assenagon Asset Management S.A. acquired a new stake in Forward Air in the 4th quarter valued at $7,980,000. Boston Partners acquired a new stake in Forward Air in the 4th quarter valued at $2,756,000. Deutsche Bank AG grew its stake in Forward Air by 81.9% in the 4th quarter. Deutsche Bank AG now owns 102,345 shares of the transportation company’s stock valued at $5,877,000 after acquiring an additional 46,090 shares during the period. Renaissance Technologies LLC acquired a new stake in Forward Air in the 4th quarter valued at $2,271,000. Finally, Goldman Sachs Group Inc. grew its stake in Forward Air by 6.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 585,963 shares of the transportation company’s stock valued at $33,657,000 after acquiring an additional 36,029 shares during the period. 98.39% of the stock is currently owned by hedge funds and other institutional investors.
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Forward Air Company Profile
Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.
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