Forward Air (NASDAQ:FWRD) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, BidAskClub reports.

FWRD has been the subject of a number of other research reports. Robert W. Baird set a $75.00 price objective on Forward Air and gave the company a “buy” rating in a research note on Friday, October 25th. Zacks Investment Research upgraded Forward Air from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $76.00.

Shares of FWRD stock opened at $69.13 on Tuesday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 22.16 and a beta of 1.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.54 and a quick ratio of 1.54. The business has a fifty day moving average of $68.49 and a 200 day moving average of $62.41. Forward Air has a 1 year low of $51.54 and a 1 year high of $72.09.

Forward Air (NASDAQ:FWRD) last issued its earnings results on Thursday, October 24th. The transportation company reported $0.78 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.78. The company had revenue of $361.70 million during the quarter, compared to analyst estimates of $354.91 million. Forward Air had a return on equity of 17.06% and a net margin of 6.54%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. As a group, equities research analysts expect that Forward Air will post 3.22 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. purchased a new position in shares of Forward Air during the 2nd quarter valued at about $30,000. Pathstone Family Office LLC purchased a new position in shares of Forward Air during the 2nd quarter valued at about $31,000. Advisory Services Network LLC raised its stake in shares of Forward Air by 70.8% during the 2nd quarter. Advisory Services Network LLC now owns 683 shares of the transportation company’s stock valued at $41,000 after buying an additional 283 shares during the last quarter. Signaturefd LLC raised its stake in shares of Forward Air by 3,767.7% during the 3rd quarter. Signaturefd LLC now owns 1,199 shares of the transportation company’s stock valued at $76,000 after buying an additional 1,168 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Forward Air by 3,740.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,229 shares of the transportation company’s stock valued at $73,000 after buying an additional 1,197 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

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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