Forward Air Corporation (NASDAQ:FWRD)‘s stock had its “hold” rating reaffirmed by investment analysts at Robert W. Baird in a research note issued on Friday. They currently have a $60.00 target price on the transportation company’s stock. Robert W. Baird’s price target points to a potential upside of 2.21% from the company’s previous close.

A number of other research firms also recently issued reports on FWRD. BidaskClub upgraded shares of Forward Air Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. KeyCorp reiterated a “hold” rating on shares of Forward Air Corporation in a research report on Friday, September 22nd. Wolfe Research downgraded shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. Cowen and Company reiterated a “hold” rating and set a $51.00 target price on shares of Forward Air Corporation in a research report on Thursday, August 10th. Finally, Zacks Investment Research downgraded shares of Forward Air Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $52.67.

Shares of Forward Air Corporation (NASDAQ:FWRD) opened at 58.70 on Friday. Forward Air Corporation has a 12-month low of $40.07 and a 12-month high of $58.75. The firm has a 50-day moving average of $53.86 and a 200 day moving average of $51.85. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 30.70 and a beta of 1.12.

Forward Air Corporation (NASDAQ:FWRD) last released its earnings results on Wednesday, July 26th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.06. Forward Air Corporation had a net margin of 5.68% and a return on equity of 13.31%. The company had revenue of $267.50 million for the quarter, compared to the consensus estimate of $256.98 million. During the same quarter in the previous year, the company earned $0.57 EPS. Forward Air Corporation’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that Forward Air Corporation will post $2.35 earnings per share for the current year.

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In other Forward Air Corporation news, CAO Michael P. Mclean sold 15,718 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $51.05, for a total transaction of $802,403.90. Following the transaction, the chief accounting officer now owns 20,559 shares in the company, valued at $1,049,536.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael P. Mclean sold 4,984 shares of the company’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $54.82, for a total transaction of $273,222.88. Following the transaction, the insider now owns 13,401 shares in the company, valued at approximately $734,642.82. The disclosure for this sale can be found here. Insiders have sold a total of 23,197 shares of company stock worth $1,205,367 in the last quarter. 2.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pinebridge Investments L.P. raised its holdings in Forward Air Corporation by 0.9% during the second quarter. Pinebridge Investments L.P. now owns 3,980 shares of the transportation company’s stock worth $212,000 after buying an additional 36 shares during the last quarter. Arizona State Retirement System raised its holdings in Forward Air Corporation by 0.6% during the first quarter. Arizona State Retirement System now owns 15,773 shares of the transportation company’s stock worth $750,000 after buying an additional 100 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in Forward Air Corporation by 1.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 6,970 shares of the transportation company’s stock worth $332,000 after buying an additional 110 shares during the last quarter. Huntington National Bank raised its holdings in Forward Air Corporation by 8.1% during the second quarter. Huntington National Bank now owns 2,204 shares of the transportation company’s stock worth $117,000 after buying an additional 165 shares during the last quarter. Finally, Texas Permanent School Fund raised its holdings in Forward Air Corporation by 0.8% during the second quarter. Texas Permanent School Fund now owns 22,060 shares of the transportation company’s stock worth $1,175,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Forward Air Corporation 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.

Analyst Recommendations for Forward Air Corporation (NASDAQ:FWRD)

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