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

FWRD has been the subject of several research reports. 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. Zacks Investment Research raised shares of Forward Air Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, April 12th. Cowen and Company raised their price target on shares of Forward Air Corp. from $42.00 to $47.00 and gave the company a “market perform” rating in a research report on Friday, April 22nd. Royal Bank Of Canada raised their price target on shares of Forward Air Corp. from $43.00 to $50.00 and gave the company a “sector perform” rating in a research report on Monday, April 25th. Finally, BB&T Corp. cut shares of Forward Air Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $50.75.

The stock has a market cap of $1.40 billion and a PE ratio of 22.41. The company has a 50-day moving average of $45.20 and a 200-day moving average of $43.69.

Forward Air Corp. (NASDAQ:FWRD) last issued its quarterly earnings data on Thursday, April 21st. The company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. During the same period last year, the company posted $0.40 earnings per share. The firm had revenue of $229.50 million for the quarter, compared to the consensus estimate of $228.13 million. The business’s revenue was up 11.5% on a year-over-year basis. Equities analysts forecast that Forward Air Corp. will post $2.33 earnings per share for the current year.

In other news, Director George M. Lynch sold 2,739 shares of the company’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $45.00, for a total transaction of $123,255.00. Following the completion of the transaction, the director now directly owns 14,426 shares of the company’s stock, valued at $649,170. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Several institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its position in shares of 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 period. Principal Financial Group Inc. boosted its position in shares of 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. Rhumbline Advisers boosted its position in shares of 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 in the last quarter. American Capital Management Inc. boosted its position in shares of 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. Finally, Glacier Peak Capital LLC boosted its position in shares of 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 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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