ValuEngine upgraded shares of Forward Air (NASDAQ:FWRD) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Several other analysts have also issued reports on FWRD. BidaskClub upgraded shares of Forward Air from a hold rating to a buy rating in a research report on Wednesday, August 1st. Stifel Nicolaus increased their price target on shares of Forward Air from $64.00 to $68.00 and gave the stock a hold rating in a research report on Thursday, July 26th. Stephens lowered shares of Forward Air from an overweight rating to an equal rating and reduced their price target for the stock from $74.00 to $67.00 in a research report on Monday, October 29th. Deutsche Bank began coverage on shares of Forward Air in a research report on Tuesday, September 4th. They set a buy rating and a $72.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Forward Air from a buy rating to a hold rating in a research report on Wednesday, October 3rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $68.75.

Shares of NASDAQ:FWRD opened at $62.51 on Friday. Forward Air has a 12-month low of $51.00 and a 12-month high of $72.81. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 26.49 and a beta of 1.52. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.07.

Forward Air (NASDAQ:FWRD) last announced its earnings results on Wednesday, October 24th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.80. Forward Air had a net margin of 7.85% and a return on equity of 15.63%. The firm had revenue of $331.38 million for the quarter, compared to analyst estimates of $327.81 million. Equities analysts expect that Forward Air will post 3.02 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 23rd will be given a dividend of $0.18 per share. This is a positive change from Forward Air’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.72 annualized dividend and a dividend yield of 1.15%. Forward Air’s dividend payout ratio (DPR) is currently 25.42%.

In other news, Director George M. Lynch sold 1,965 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $60.52, for a total transaction of $118,921.80. Following the completion of the transaction, the director now owns 9,972 shares of the company’s stock, valued at $603,505.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Bruce A. Campbell sold 8,523 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $64.51, for a total transaction of $549,818.73. Following the transaction, the chairman now directly owns 138,175 shares of the company’s stock, valued at approximately $8,913,669.25. The disclosure for this sale can be found here. Insiders have sold a total of 27,905 shares of company stock worth $1,801,632 in the last quarter. 1.95% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in FWRD. Royal Bank of Canada raised its stake in shares of Forward Air by 281.0% during the first quarter. Royal Bank of Canada now owns 2,995 shares of the transportation company’s stock valued at $159,000 after acquiring an additional 2,209 shares during the last quarter. Principal Financial Group Inc. raised its stake in Forward Air by 2.0% during the first quarter. Principal Financial Group Inc. now owns 247,272 shares of the transportation company’s stock worth $13,070,000 after buying an additional 4,751 shares during the last quarter. Bessemer Group Inc. raised its stake in Forward Air by 16.7% during the second quarter. Bessemer Group Inc. now owns 30,000 shares of the transportation company’s stock worth $1,772,000 after buying an additional 4,300 shares during the last quarter. Tributary Capital Management LLC raised its stake in Forward Air by 9.5% during the second quarter. Tributary Capital Management LLC now owns 418,080 shares of the transportation company’s stock worth $24,700,000 after buying an additional 36,402 shares during the last quarter. Finally, BTIM Corp. raised its stake in Forward Air by 28.9% during the second quarter. BTIM Corp. now owns 257,948 shares of the transportation company’s stock worth $15,240,000 after buying an additional 57,851 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Forward Air Company Profile

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).

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