Shares of Forward Air Corp. (NASDAQ:FWRD) fell 1.7% on Tuesday . The stock traded as low as $44.62 and last traded at $45.05, with a volume of 127,658 shares changing hands. The stock had previously closed at $45.84.

Several brokerages have recently weighed in on FWRD. BB&T Corp. downgraded Forward Air Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday. Cowen and Company restated a “hold” rating on shares of Forward Air Corp. in a research note on Saturday, April 23rd. Zacks Investment Research downgraded Forward Air Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, April 26th. Robert W. Baird raised their target price on Forward Air Corp. from $49.00 to $50.00 in a research note on Monday, April 4th. Finally, Royal Bank Of Canada raised their target price on Forward Air Corp. from $43.00 to $50.00 and gave the company a “sector perform” rating in a research note on Monday, April 25th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $50.75.

The company has a market cap of $1.38 billion and a price-to-earnings ratio of 22.09. The company has a 50-day moving average of $45.13 and a 200 day moving average of $43.66.

Forward Air Corp. (NASDAQ:FWRD) last issued its earnings results on Thursday, April 21st. The company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. During the same period last year, the business earned $0.40 EPS. The company had revenue of $229.50 million for the quarter, compared to analyst estimates of $228.13 million. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Equities analysts forecast that Forward Air Corp. will post $2.34 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 13th. Shareholders of record on Tuesday, May 31st were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, May 26th.

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

Several large investors have added to or reduced their stakes in FWRD. Glacier Peak Capital LLC raised its stake in Forward Air Corp. by 21.1% in the fourth quarter. Glacier Peak Capital LLC now owns 36,380 shares of the company’s stock valued at $1,565,000 after buying an additional 6,342 shares during the last quarter. Rhumbline Advisers raised its stake in Forward Air Corp. by 5.3% in the fourth quarter. Rhumbline Advisers now owns 56,403 shares of the company’s stock valued at $2,426,000 after buying an additional 2,855 shares during the last quarter. California State Teachers Retirement System raised its stake in Forward Air Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 57,366 shares of the company’s stock valued at $2,467,000 after buying an additional 900 shares during the last quarter. 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 during the last quarter. Finally, 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 during 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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