Forward Air Corporation (NASDAQ:FWRD)‘s stock had its “hold” rating restated by investment analysts at KeyCorp in a research note issued to investors on Friday.

A number of other equities analysts have also recently issued reports on FWRD. Zacks Investment Research cut Forward Air Corporation from a “buy” rating to a “hold” rating in a report on Monday, May 29th. BidaskClub upgraded Forward Air Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Wolfe Research cut Forward Air Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 1st. Finally, Cowen and Company reiterated a “hold” rating and set a $51.00 target price on shares of Forward Air Corporation in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $51.25.

Shares of Forward Air Corporation (NASDAQ FWRD) opened at 54.75 on Friday. The firm has a 50 day moving average price of $51.80 and a 200-day moving average price of $51.05. Forward Air Corporation has a 12 month low of $40.07 and a 12 month high of $56.52. The firm has a market cap of $1.66 billion, a PE ratio of 28.63 and a beta of 1.07.

Forward Air Corporation (NASDAQ:FWRD) last released its earnings results on Wednesday, July 26th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.06. The firm had revenue of $267.50 million during the quarter, compared to analysts’ expectations of $256.98 million. Forward Air Corporation had a return on equity of 13.31% and a net margin of 5.68%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. On average, analysts predict that Forward Air Corporation will post $2.35 EPS for the current fiscal year.

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In other news, CAO Michael P. Mclean sold 15,718 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $51.05, for a total transaction of $802,403.90. Following the completion of the transaction, the chief accounting officer now directly owns 20,559 shares in the company, valued at approximately $1,049,536.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Michael P. Mclean sold 2,495 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $52.00, for a total transaction of $129,740.00. Following the transaction, the chief accounting officer now owns 20,880 shares of the company’s stock, valued at $1,085,760. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of FWRD. Riverhead Capital Management LLC boosted its stake in shares of Forward Air Corporation by 72.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,897 shares of the transportation company’s stock worth $101,000 after buying an additional 797 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Forward Air Corporation during the 1st quarter worth about $114,000. Huntington National Bank boosted its stake in shares of Forward Air Corporation by 8.1% during the 2nd quarter. Huntington National Bank now owns 2,204 shares of the transportation company’s stock worth $117,000 after buying an additional 165 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Forward Air Corporation during the 2nd quarter worth about $117,000. Finally, US Bancorp DE boosted its stake in shares of Forward Air Corporation by 22.6% during the 2nd quarter. US Bancorp DE now owns 2,411 shares of the transportation company’s stock worth $129,000 after buying an additional 445 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

About Forward Air Corporation

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 Corporation (NASDAQ:FWRD)

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