Forward Air (NASDAQ:FWRD) Stock Price Up 7.4% – Still a Buy?

Forward Air Corporation (NASDAQ:FWRD) traded up 7.4% on Wednesday . The stock traded as high as $28.32 and last traded at $29.0620. 343,425 shares changed hands during trading, a decline of 35% from the average session volume of 527,330 shares. The stock had previously closed at $27.06.

Analyst Ratings Changes

A number of equities analysts have recently commented on FWRD shares. Susquehanna boosted their price target on Forward Air from $42.00 to $45.00 and gave the stock a “positive” rating in a report on Monday, January 5th. Jefferies Financial Group reiterated a “buy” rating on shares of Forward Air in a research report on Thursday, November 6th. Stifel Nicolaus increased their target price on shares of Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a research note on Wednesday, October 8th. Finally, Zacks Research cut shares of Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.00.

Forward Air Price Performance

The company has a 50 day moving average price of $25.20 and a 200-day moving average price of $25.82. The company has a market cap of $868.44 million, a price-to-earnings ratio of -7.22 and a beta of 1.35. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 8.73.

Forward Air (NASDAQ:FWRD) last posted its earnings results on Wednesday, November 5th. The transportation company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.39). Forward Air had a negative return on equity of 33.13% and a negative net margin of 4.64%.The business had revenue of $631.76 million for the quarter, compared to analyst estimates of $645.45 million. During the same quarter in the prior year, the business earned ($2.62) earnings per share. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts predict that Forward Air Corporation will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FWRD. Melqart Asset Management UK Ltd bought a new stake in Forward Air in the third quarter valued at approximately $9,805,000. Allianz Asset Management GmbH acquired a new stake in shares of Forward Air during the third quarter worth $8,295,000. Vanguard Group Inc. raised its stake in Forward Air by 15.1% during the third quarter. Vanguard Group Inc. now owns 2,353,608 shares of the transportation company’s stock worth $60,347,000 after buying an additional 307,906 shares during the last quarter. Royal Bank of Canada lifted its holdings in Forward Air by 1,179.7% in the first quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company’s stock valued at $6,451,000 after buying an additional 296,001 shares during the period. Finally, Rothschild Investment LLC grew its holdings in Forward Air by 337,481.3% during the 3rd quarter. Rothschild Investment LLC now owns 270,065 shares of the transportation company’s stock worth $6,924,000 after acquiring an additional 269,985 shares during the period. 97.03% of the stock is owned by institutional investors.

About Forward Air

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.