Forward Air (NASDAQ:FWRD) Shares Gap Down to $26.00

Forward Air Co. (NASDAQ:FWRD) shares gapped down prior to trading on Monday . The stock had previously closed at $26.00, but opened at $25.33. Forward Air shares last traded at $24.35, with a volume of 43,434 shares.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FWRD. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Wednesday, April 24th. Wolfe Research raised shares of Forward Air from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, May 28th. Finally, Robert W. Baird lifted their price target on shares of Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $57.80.

Forward Air Trading Down 4.3 %

The firm has a market cap of $657.51 million, a price-to-earnings ratio of 7.03 and a beta of 1.00. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.27. The business has a 50 day moving average price of $21.85 and a 200-day moving average price of $26.32.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, August 7th. The transportation company reported ($23.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($23.11). The company had revenue of $643.67 million during the quarter, compared to analysts’ expectations of $642.92 million. Forward Air had a return on equity of 5.37% and a net margin of 4.08%. The firm’s revenue was up 92.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS. As a group, research analysts expect that Forward Air Co. will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Forward Air

Several hedge funds and other institutional investors have recently modified their holdings of FWRD. UMB Bank n.a. increased its holdings in Forward Air by 413.5% in the first quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock valued at $26,000 after buying an additional 674 shares during the last quarter. Gladius Capital Management LP raised its position in shares of Forward Air by 33.5% during the 2nd quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 493 shares in the last quarter. GAMMA Investing LLC lifted its stake in Forward Air by 2,329.3% during the second quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock worth $38,000 after purchasing an additional 1,910 shares during the last quarter. Headlands Technologies LLC boosted its holdings in Forward Air by 98.5% in the first quarter. Headlands Technologies LLC now owns 1,634 shares of the transportation company’s stock worth $51,000 after purchasing an additional 811 shares during the period. Finally, TFO Wealth Partners LLC increased its stake in Forward Air by 116,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock valued at $73,000 after purchasing an additional 1,162 shares during the last quarter. Institutional investors own 97.03% 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 States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.