Forward Air Co. (NASDAQ:FWRD) has been given an average recommendation of “Hold” by the nine analysts that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $64.75.

A number of research firms have recently issued reports on FWRD. BidaskClub upgraded shares of Forward Air from a “hold” rating to a “buy” rating in a report on Wednesday, June 20th. Zacks Investment Research upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a report on Friday, April 27th. Finally, ValuEngine upgraded shares of Forward Air from a “hold” rating to a “buy” rating in a report on Thursday, June 21st.

FWRD stock traded up $0.50 during mid-day trading on Tuesday, hitting $59.89. 153,562 shares of the company were exchanged, compared to its average volume of 186,912. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.56 and a current ratio of 2.56. The company has a market capitalization of $1.76 billion, a P/E ratio of 24.05 and a beta of 1.27. Forward Air has a 1-year low of $49.88 and a 1-year high of $64.80.

Forward Air (NASDAQ:FWRD) last announced its earnings results on Wednesday, April 25th. The transportation company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. Forward Air had a net margin of 7.85% and a return on equity of 14.41%. The firm had revenue of $302.60 million for the quarter, compared to the consensus estimate of $291.73 million. During the same period last year, the company posted $0.48 EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis. analysts forecast that Forward Air will post 3.02 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.00%. Forward Air’s dividend payout ratio (DPR) is presently 25.42%.

In related news, insider Chris C. Ruble sold 7,969 shares of the firm’s stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $60.50, for a total value of $482,124.50. Following the completion of the transaction, the insider now directly owns 24,756 shares of the company’s stock, valued at $1,497,738. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael L. Hance sold 4,669 shares of the firm’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $60.66, for a total transaction of $283,221.54. Following the completion of the transaction, the vice president now directly owns 31,120 shares of the company’s stock, valued at $1,887,739.20. The disclosure for this sale can be found here. Insiders sold 21,198 shares of company stock worth $1,279,195 over the last quarter. 1.95% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in FWRD. Sei Investments Co. boosted its position in shares of Forward Air by 1,075.0% in the first quarter. Sei Investments Co. now owns 2,256 shares of the transportation company’s stock valued at $119,000 after acquiring an additional 2,064 shares during the period. Advisor Group Inc. raised its stake in Forward Air by 138.7% in the fourth quarter. Advisor Group Inc. now owns 2,626 shares of the transportation company’s stock valued at $151,000 after purchasing an additional 1,526 shares in the last quarter. Royal Bank of Canada raised its stake in Forward Air by 281.0% in the first quarter. Royal Bank of Canada now owns 2,995 shares of the transportation company’s stock valued at $159,000 after purchasing an additional 2,209 shares in the last quarter. Bruderman Asset Management LLC acquired a new position in Forward Air in the first quarter valued at about $166,000. Finally, Verition Fund Management LLC acquired a new position in Forward Air in the fourth quarter valued at about $238,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

About Forward Air

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-than-truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).

Analyst Recommendations for Forward Air (NASDAQ:FWRD)

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