Forward Air (NASDAQ:FWRD) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank set a $73.00 target price on shares of Forward Air and gave the stock a “buy” rating in a report on Thursday, September 27th. ValuEngine upgraded shares of Forward Air from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Stephens set a $70.00 target price on shares of Forward Air and gave the stock a “buy” rating in a report on Friday, July 27th. Stifel Nicolaus set a $68.00 target price on shares of Forward Air and gave the stock a “hold” rating in a report on Thursday, October 25th. Finally, Zacks Investment Research lowered shares of Forward Air from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $68.75.

Shares of NASDAQ:FWRD opened at $62.35 on Thursday. Forward Air has a 52 week low of $51.00 and a 52 week high of $72.81. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 26.42 and a beta of 1.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.66 and a quick ratio of 2.66.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Forward Air had a net margin of 7.85% and a return on equity of 15.63%. The business had revenue of $331.38 million during the quarter, compared to analysts’ expectations of $327.81 million. As a group, research analysts expect that Forward Air will post 3.02 EPS for the current fiscal year.

In related news, Chairman Bruce A. Campbell sold 8,627 shares of Forward Air stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $65.57, for a total transaction of $565,672.39. Following the completion of the sale, the chairman now owns 137,866 shares in the company, valued at approximately $9,039,873.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George M. Lynch sold 1,965 shares of Forward Air stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $60.52, for a total transaction of $118,921.80. Following the sale, the director now owns 9,972 shares of the company’s stock, valued at approximately $603,505.44. The disclosure for this sale can be found here. Insiders have sold a total of 19,115 shares of company stock valued at $1,234,413 in the last quarter. 1.95% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Radnor Capital Management LLC lifted its holdings in Forward Air by 11.2% during the 3rd quarter. Radnor Capital Management LLC now owns 7,560 shares of the transportation company’s stock valued at $542,000 after buying an additional 760 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in Forward Air by 18.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 6,905 shares of the transportation company’s stock valued at $494,000 after buying an additional 1,065 shares in the last quarter. Summit Global Investments lifted its holdings in Forward Air by 13.0% during the 2nd quarter. Summit Global Investments now owns 11,300 shares of the transportation company’s stock valued at $668,000 after buying an additional 1,300 shares in the last quarter. IndexIQ Advisors LLC lifted its holdings in Forward Air by 3.9% during the 3rd quarter. IndexIQ Advisors LLC now owns 43,005 shares of the transportation company’s stock valued at $3,083,000 after buying an additional 1,625 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Forward Air by 57.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,605 shares of the transportation company’s stock valued at $330,000 after buying an additional 1,679 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

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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