Forward Air Co. (FWRD) Receives $69.33 Consensus PT from Analysts
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.
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).
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