Forward Air (FWRD) Lowered to Sell at BidaskClub
Forward Air (NASDAQ:FWRD) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday.
Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Cowen reaffirmed a “market perform” rating and set a $54.00 price target (up previously from $51.00) on shares of Forward Air in a research note on Monday, October 30th. Stifel Nicolaus lifted their price target on shares of Forward Air from $47.00 to $52.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Robert W. Baird reaffirmed a “hold” rating and set a $60.00 price target on shares of Forward Air in a research note on Friday, October 6th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Forward Air in a research note on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $55.33.
Forward Air (FWRD) traded up $0.52 during trading on Friday, reaching $58.12. 126,136 shares of the company traded hands, compared to its average volume of 129,247. Forward Air has a 12-month low of $45.86 and a 12-month high of $59.97. The stock has a market cap of $1,714.88, a P/E ratio of 27.29 and a beta of 1.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.71 and a quick ratio of 2.71.
Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.58 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. Forward Air had a net margin of 6.10% and a return on equity of 13.76%. The firm had revenue of $280.20 million for the quarter, compared to the consensus estimate of $278.75 million. During the same quarter in the previous year, the firm posted $0.51 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. sell-side analysts predict that Forward Air will post 2.33 earnings per share for the current year.
In other Forward Air news, Chairman Bruce A. Campbell sold 34,281 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $55.01, for a total transaction of $1,885,797.81. Following the completion of the transaction, the chairman now directly owns 155,831 shares of the company’s stock, valued at approximately $8,572,263.31. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bruce A. Campbell sold 500 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $55.45, for a total transaction of $27,725.00. Following the transaction, the chief executive officer now directly owns 153,454 shares of the company’s stock, valued at $8,509,024.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,549 shares of company stock valued at $5,250,836. 2.40% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Atlantic Trust Group LLC acquired a new position in Forward Air during the 3rd quarter worth $1,388,000. GSA Capital Partners LLP boosted its holdings in shares of Forward Air by 78.0% in the 3rd quarter. GSA Capital Partners LLP now owns 9,373 shares of the transportation company’s stock valued at $536,000 after buying an additional 4,106 shares during the period. Algert Global LLC boosted its holdings in shares of Forward Air by 19.2% in the 3rd quarter. Algert Global LLC now owns 54,656 shares of the transportation company’s stock valued at $3,128,000 after buying an additional 8,807 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Forward Air by 1.9% in the 3rd quarter. California Public Employees Retirement System now owns 59,518 shares of the transportation company’s stock valued at $3,406,000 after buying an additional 1,118 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of Forward Air by 3.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 90,081 shares of the transportation company’s stock valued at $5,155,000 after buying an additional 2,774 shares during the period. 95.70% of the stock is owned by institutional investors.
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Forward Air 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.
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