Forward Air (NASDAQ:FWRD) Upgraded at StockNews.com

StockNews.com upgraded shares of Forward Air (NASDAQ:FWRD) to a sell rating in a research report report published on Wednesday.

FWRD has been the subject of several other research reports. Jefferies Financial Group set a $47.00 target price on Forward Air and gave the stock a “buy” rating in a research note on Friday, October 18th. Stifel Nicolaus upped their price target on Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Robert W. Baird upped their price objective on shares of Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Benchmark restated a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Forward Air has a consensus rating of “Hold” and a consensus price target of $39.25.

Forward Air Stock Down 3.9 %

Forward Air stock traded down $1.45 during midday trading on Wednesday, reaching $35.40. The company’s stock had a trading volume of 626,938 shares, compared to its average volume of 792,245. Forward Air has a fifty-two week low of $11.21 and a fifty-two week high of $68.09. The company has a market cap of $980.58 million, a P/E ratio of -1.49 and a beta of 1.02. The company has a quick ratio of 1.33, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. The business has a 50-day simple moving average of $35.74 and a 200-day simple moving average of $26.66.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Wednesday, August 7th. The transportation company reported ($23.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($23.11). The firm had revenue of $643.67 million for the quarter, compared to analyst estimates of $642.92 million. Forward Air had a negative net margin of 31.14% and a negative return on equity of 98.80%. Forward Air’s revenue for the quarter was up 92.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. On average, research analysts expect that Forward Air will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Forward Air

Institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new position in Forward Air in the second quarter valued at about $26,000. Gladius Capital Management LP boosted its position in Forward Air by 33.5% during the second quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 493 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Forward Air by 2,329.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock worth $38,000 after acquiring an additional 1,910 shares during the period. Northwest Investment Counselors LLC acquired a new position in Forward Air in the third quarter valued at about $39,000. Finally, Headlands Technologies LLC raised its holdings in shares of Forward Air by 98.5% in the 1st quarter. Headlands Technologies LLC now owns 1,634 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 811 shares during the period. Institutional investors own 97.03% of the company’s stock.

About Forward Air

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.