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

Other research analysts have also issued reports about the company. BidaskClub lowered Forward Air from a buy rating to a hold rating in a report on Wednesday, December 12th. Stifel Nicolaus set a $68.00 price target on Forward Air and gave the stock a hold rating in a report on Thursday, October 25th. Stephens lowered Forward Air from an overweight rating to an equal rating and cut their price target for the stock from $74.00 to $67.00 in a report on Monday, October 29th. Finally, Zacks Investment Research upgraded Forward Air from a sell rating to a hold rating in a report on Monday, January 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Forward Air presently has a consensus rating of Hold and a consensus target price of $68.75.

Shares of FWRD stock opened at $64.52 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 $1.88 billion, a PE ratio of 20.68 and a beta of 1.55. 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 results on Thursday, February 7th. The transportation company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.12. Forward Air had a return on equity of 17.08% and a net margin of 6.97%. The company had revenue of $356.60 million during the quarter, compared to analyst estimates of $347.16 million. During the same period in the previous year, the company earned $0.65 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities analysts anticipate that Forward Air will post 3.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Thursday, March 7th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Wednesday, March 6th. Forward Air’s dividend payout ratio is presently 23.08%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Forward Air by 0.7% during the fourth quarter. BlackRock Inc. now owns 4,227,126 shares of the transportation company’s stock valued at $231,857,000 after purchasing an additional 28,208 shares during the period. Vanguard Group Inc. increased its position in shares of Forward Air by 2.1% during the third quarter. Vanguard Group Inc. now owns 2,917,550 shares of the transportation company’s stock valued at $209,189,000 after purchasing an additional 59,982 shares during the period. Vanguard Group Inc increased its position in shares of Forward Air by 2.1% during the third quarter. Vanguard Group Inc now owns 2,917,550 shares of the transportation company’s stock valued at $209,189,000 after purchasing an additional 59,982 shares during the period. Victory Capital Management Inc. increased its position in shares of Forward Air by 18.8% during the third quarter. Victory Capital Management Inc. now owns 1,192,218 shares of the transportation company’s stock valued at $85,482,000 after purchasing an additional 188,810 shares during the period. Finally, FMR LLC increased its position in shares of Forward Air by 252.6% during the third quarter. FMR LLC now owns 457,610 shares of the transportation company’s stock valued at $32,811,000 after purchasing an additional 327,825 shares during the period. Institutional investors and hedge funds own 96.52% of the company’s stock.

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).

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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