Forward Air Corp. (NASDAQ:FWRD) saw unusually-strong trading volume on Friday . Approximately 273,572 shares were traded during mid-day trading, an increase of 64% from the previous session’s volume of 166,487 shares.The stock last traded at $45.04 and had previously closed at $44.55.

Several analysts have commented on FWRD shares. Robert W. Baird boosted their price target on shares of Forward Air Corp. from $49.00 to $50.00 in a research note on Monday, April 4th. Zacks Investment Research upgraded shares of Forward Air Corp. from a “sell” rating to a “hold” rating in a research note on Friday, June 24th. Cowen and Company reiterated a “hold” rating on shares of Forward Air Corp. in a research note on Saturday, April 23rd. Finally, Royal Bank Of Canada upgraded shares of Forward Air Corp. from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $50.00 to $52.00 in a research note on Tuesday, May 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $50.75.

The firm has a 50 day moving average price of $45.06 and a 200-day moving average price of $43.64. The firm has a market cap of $1.38 billion and a PE ratio of 22.07.

Forward Air Corp. (NASDAQ:FWRD) last released its quarterly earnings data on Thursday, April 21st. The company reported $0.43 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.43. The business earned $229.50 million during the quarter, compared to analyst estimates of $228.13 million. During the same quarter in the previous year, the company earned $0.40 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. Analysts anticipate that Forward Air Corp. will post $2.34 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, June 13th. Investors of record on Tuesday, May 31st were given a dividend of $0.12 per share. The ex-dividend date was Thursday, May 26th. This represents a $0.48 annualized dividend and a yield of 1.06%.

In related news, Director George M. Lynch sold 2,739 shares of the firm’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $45.00, for a total transaction of $123,255.00. Following the sale, the director now owns 14,426 shares in the company, valued at $649,170. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

A number of hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its stake in Forward Air Corp. by 14.9% in the fourth quarter. Victory Capital Management Inc. now owns 578,708 shares of the company’s stock valued at $24,890,000 after buying an additional 75,001 shares in the last quarter. Fiduciary Management Associates LLC raised its stake in Forward Air Corp. by 24.0% in the fourth quarter. Fiduciary Management Associates LLC now owns 549,124 shares of the company’s stock valued at $23,615,000 after buying an additional 106,406 shares in the last quarter. Principal Financial Group Inc. raised its stake in Forward Air Corp. by 0.8% in the fourth quarter. Principal Financial Group Inc. now owns 203,049 shares of the company’s stock valued at $8,732,000 after buying an additional 1,664 shares in the last quarter. Tributary Capital Management LLC raised its stake in Forward Air Corp. by 14.9% in the fourth quarter. Tributary Capital Management LLC now owns 146,977 shares of the company’s stock valued at $6,321,000 after buying an additional 19,098 shares in the last quarter. Finally, American Capital Management Inc. raised its stake in Forward Air Corp. by 6.2% in the fourth quarter. American Capital Management Inc. now owns 84,335 shares of the company’s stock valued at $3,627,000 after buying an additional 4,920 shares in the last quarter.

Forward Air Corporation offers services, which are classified into three segments: Forward Air, Forward Air Solutions (FASI) and Total Quality (TQI). The Company, through its three segments, offers a range of logistic and other services, including expedited full truckload (TLX), pick-up and delivery (Forward Air Complete), pool distribution, temperature-controlled truckload, warehousing, customs brokerage and shipment consolidation and handling.

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