Stifel Nicolaus Cuts Forward Air (NASDAQ:FWRD) Price Target to $30.00

Forward Air (NASDAQ:FWRD) had its price objective reduced by Stifel Nicolaus from $31.00 to $30.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other research analysts also recently issued reports on the company. Susquehanna reaffirmed a “positive” rating and set a $42.00 price objective on shares of Forward Air in a report on Tuesday, February 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Forward Air in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Three equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $36.00.

Forward Air Stock Up 6.3%

Shares of NASDAQ:FWRD opened at $22.18 on Thursday. Forward Air has a 12 month low of $13.61 and a 12 month high of $32.47. The company’s 50-day moving average price is $21.24 and its two-hundred day moving average price is $23.06. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 10.58. The firm has a market cap of $699.78 million, a P/E ratio of -6.30 and a beta of 1.46.

Forward Air (NASDAQ:FWRD) last announced its earnings results on Monday, February 23rd. The transportation company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Forward Air had a negative return on equity of 42.67% and a negative net margin of 4.32%.The company had revenue of $631.23 million during the quarter, compared to the consensus estimate of $629.60 million. During the same period in the prior year, the firm posted ($1.23) earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. As a group, research analysts forecast that Forward Air will post -0.72 EPS for the current fiscal year.

Institutional Trading of Forward Air

Several institutional investors and hedge funds have recently made changes to their positions in FWRD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Forward Air by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock worth $299,000 after purchasing an additional 624 shares during the last quarter. AQR Capital Management LLC increased its holdings in Forward Air by 7.0% in the first quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock valued at $201,000 after purchasing an additional 654 shares during the last quarter. LPL Financial LLC lifted its stake in Forward Air by 1.5% in the fourth quarter. LPL Financial LLC now owns 43,228 shares of the transportation company’s stock valued at $1,081,000 after buying an additional 655 shares during the period. Thrivent Financial for Lutherans lifted its stake in Forward Air by 5.2% in the second quarter. Thrivent Financial for Lutherans now owns 15,436 shares of the transportation company’s stock valued at $379,000 after buying an additional 762 shares during the period. Finally, Logan Capital Management Inc. boosted its holdings in Forward Air by 11.7% during the third quarter. Logan Capital Management Inc. now owns 7,575 shares of the transportation company’s stock worth $194,000 after buying an additional 791 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Forward Air Company Profile

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.