Shares of Forward Air Co. (NASDAQ:FWRD) have received an average recommendation of “Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $69.33.

A number of brokerages recently weighed in on FWRD. BidaskClub upgraded shares of Forward Air from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 29th. Zacks Investment Research downgraded shares of Forward Air from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Deutsche Bank set a $73.00 target price on shares of Forward Air and gave the stock a “buy” rating in a report on Thursday, September 27th. ValuEngine upgraded shares of Forward Air from a “hold” rating to a “buy” rating in a report on Friday, November 16th. Finally, Stephens downgraded shares of Forward Air from an “overweight” rating to an “equal” rating and lowered their target price for the stock from $74.00 to $67.00 in a report on Monday, October 29th.

In other Forward Air news, Director George M. Lynch sold 1,965 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $60.52, for a total value of $118,921.80. Following the transaction, the director now directly owns 9,972 shares in the company, valued at $603,505.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.95% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in FWRD. Royal Bank of Canada increased its holdings in shares of Forward Air by 281.0% in the first quarter. Royal Bank of Canada now owns 2,995 shares of the transportation company’s stock valued at $159,000 after purchasing an additional 2,209 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Forward Air by 2.0% in the first quarter. Principal Financial Group Inc. now owns 247,272 shares of the transportation company’s stock valued at $13,070,000 after purchasing an additional 4,751 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Forward Air by 15.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,625 shares of the transportation company’s stock valued at $982,000 after purchasing an additional 2,278 shares during the last quarter. TD Asset Management Inc. increased its holdings in shares of Forward Air by 1,840.4% in the second quarter. TD Asset Management Inc. now owns 182,400 shares of the transportation company’s stock valued at $10,776,000 after purchasing an additional 173,000 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of Forward Air by 15.8% in the second quarter. Comerica Bank now owns 70,402 shares of the transportation company’s stock valued at $4,103,000 after purchasing an additional 9,600 shares during the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.

FWRD traded down $2.07 during trading on Friday, reaching $59.65. 108,139 shares of the stock were exchanged, compared to its average volume of 189,711. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 25.28 and a beta of 1.53. Forward Air has a twelve month low of $51.00 and a twelve month high of $72.81. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.07.

Forward Air (NASDAQ:FWRD) last issued its earnings results on Wednesday, October 24th. The transportation company reported $0.80 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.80. The business had revenue of $331.38 million for the quarter, compared to the consensus estimate of $327.81 million. Forward Air had a net margin of 7.85% and a return on equity of 15.63%. As a group, research analysts forecast that Forward Air will post 3.02 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be issued a $0.18 dividend. This is an increase from Forward Air’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 21st. Forward Air’s payout ratio is currently 30.51%.

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).

Featured Article: Diversification Important in Investing

Receive News & Ratings for Forward Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air and related companies with MarketBeat.com's FREE daily email newsletter.