Forward Air (FWRD) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Forward Air (NASDAQ:FWRD) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

FWRD has been the topic of several other research reports. Robert W. Baird reissued a hold rating and set a $60.00 price objective on shares of Forward Air in a research note on Friday, October 6th. Zacks Investment Research lowered shares of Forward Air from a hold rating to a sell rating in a research note on Friday, October 27th. KeyCorp reissued a hold rating on shares of Forward Air in a research note on Friday, September 22nd. Cowen reaffirmed a hold rating and issued a $51.00 target price on shares of Forward Air in a report on Thursday, August 10th. Finally, Stifel Nicolaus lifted their target price on shares of Forward Air from $47.00 to $52.00 and gave the stock a hold rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Forward Air currently has a consensus rating of Hold and an average price target of $55.33.

Shares of Forward Air (FWRD) opened at $57.16 on Friday. Forward Air has a 52 week low of $45.86 and a 52 week high of $59.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.71. The company has a market cap of $1,700.00, a PE ratio of 24.86 and a beta of 1.18.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Forward Air had a net margin of 6.10% and a return on equity of 13.76%. The business had revenue of $280.20 million for the quarter, compared to analyst estimates of $278.75 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Forward Air’s quarterly revenue was up 12.3% on a year-over-year basis. analysts expect that Forward Air will post 2.33 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 23rd will be issued a $0.15 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $0.60 annualized dividend and a yield of 1.05%. Forward Air’s dividend payout ratio (DPR) is presently 28.17%.

In other news, insider Michael P. Mclean sold 4,984 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $54.82, for a total transaction of $273,222.88. Following the completion of the transaction, the insider now directly owns 13,401 shares of the company’s stock, valued at $734,642.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George M. Lynch sold 1,640 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $57.00, for a total transaction of $93,480.00. Following the transaction, the director now directly owns 12,383 shares of the company’s stock, valued at $705,831. The disclosure for this sale can be found here. Insiders sold 75,413 shares of company stock valued at $4,188,859 over the last ninety days. Corporate insiders own 2.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pinebridge Investments L.P. grew its position in Forward Air by 0.9% during the second quarter. Pinebridge Investments L.P. now owns 3,980 shares of the transportation company’s stock valued at $212,000 after buying an additional 36 shares during the period. Texas Permanent School Fund grew its position in Forward Air by 0.8% during the second quarter. Texas Permanent School Fund now owns 22,060 shares of the transportation company’s stock valued at $1,175,000 after buying an additional 173 shares during the period. Public Employees Retirement System of Ohio grew its position in Forward Air by 0.3% during the second quarter. Public Employees Retirement System of Ohio now owns 56,848 shares of the transportation company’s stock valued at $3,029,000 after buying an additional 175 shares during the period. Ameritas Investment Partners Inc. grew its position in Forward Air by 10.3% during the second quarter. Ameritas Investment Partners Inc. now owns 2,636 shares of the transportation company’s stock valued at $140,000 after buying an additional 246 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Forward Air by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 23,271 shares of the transportation company’s stock valued at $1,239,000 after buying an additional 270 shares during the period. Institutional investors own 95.87% of the company’s stock.

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About Forward Air

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 (NASDAQ:FWRD)

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