Forward Air Corporation (FWRD) Given Consensus Recommendation of “Hold” by Analysts
Shares of Forward Air Corporation (NASDAQ:FWRD) have received an average recommendation of “Hold” from the nine brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $52.67.
A number of research firms have issued reports on FWRD. Robert W. Baird reissued a “hold” rating and set a $60.00 target price on shares of Forward Air Corporation in a research note on Friday. BidaskClub lowered shares of Forward Air Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Zacks Investment Research lowered shares of Forward Air Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Cowen and Company reaffirmed a “hold” rating and issued a $51.00 price target on shares of Forward Air Corporation in a research note on Thursday, August 10th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Forward Air Corporation in a research note on Friday, September 22nd.
Shares of Forward Air Corporation (FWRD) traded up 1.47% during midday trading on Friday, reaching $58.70. 135,747 shares of the company were exchanged. Forward Air Corporation has a 52-week low of $40.07 and a 52-week high of $58.75. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 30.70 and a beta of 1.12. The company’s 50-day moving average price is $53.86 and its 200 day moving average price is $51.85.
Forward Air Corporation (NASDAQ:FWRD) last posted its earnings results on Wednesday, July 26th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. The firm had revenue of $267.50 million during the quarter, compared to analyst estimates of $256.98 million. Forward Air Corporation had a net margin of 5.68% and a return on equity of 13.31%. Forward Air Corporation’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS. On average, equities analysts predict that Forward Air Corporation will post $2.35 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Wednesday, August 23rd. Forward Air Corporation’s dividend payout ratio is currently 31.25%.
ILLEGAL ACTIVITY WARNING: This article was first reported by Daily Political and is owned by of Daily Political. If you are accessing this article on another publication, it was illegally copied and republished in violation of international copyright and trademark law. The original version of this article can be accessed at https://www.dailypolitical.com/2017/10/06/forward-air-corporation-fwrd-given-consensus-recommendation-of-hold-by-analysts.html.
In other news, CAO Michael P. Mclean sold 15,718 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $51.05, for a total value of $802,403.90. Following the completion of the sale, the chief accounting officer now directly owns 20,559 shares of the company’s stock, valued at approximately $1,049,536.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael P. Mclean sold 4,984 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $54.82, for a total transaction of $273,222.88. Following the completion of the sale, the insider now directly owns 13,401 shares of the company’s stock, valued at $734,642.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,197 shares of company stock valued at $1,205,367. Company insiders own 2.40% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Forward Air Corporation by 157,904.2% in the 1st quarter. BlackRock Inc. now owns 3,803,161 shares of the transportation company’s stock worth $180,917,000 after acquiring an additional 3,800,754 shares during the period. US Bancorp DE lifted its stake in Forward Air Corporation by 22.6% during the second quarter. US Bancorp DE now owns 2,411 shares of the transportation company’s stock valued at $129,000 after purchasing an additional 445 shares during the last quarter. Vanguard Group Inc. lifted its stake in Forward Air Corporation by 4.5% during the first quarter. Vanguard Group Inc. now owns 2,678,842 shares of the transportation company’s stock valued at $127,433,000 after purchasing an additional 114,244 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Forward Air Corporation by 53.9% during the first quarter. Renaissance Technologies LLC now owns 62,239 shares of the transportation company’s stock valued at $2,961,000 after purchasing an additional 21,800 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Forward Air Corporation by 53.3% during the second quarter. BNP Paribas Arbitrage SA now owns 10,231 shares of the transportation company’s stock valued at $545,000 after purchasing an additional 3,557 shares during the last quarter. 96.18% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Forward Air Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air Corporation and related companies with MarketBeat.com's FREE daily email newsletter.