Forward Air (NASDAQ:FWRD) Announces Earnings Results

Forward Air (NASDAQ:FWRD) posted its quarterly earnings results on Monday. The transportation company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.21, FiscalAI reports. The firm had revenue of $673.86 million for the quarter, compared to the consensus estimate of $673.40 million. Forward Air had a negative net margin of 11.37% and a negative return on equity of 19.49%.

Forward Air Price Performance

NASDAQ:FWRD traded up $1.01 during mid-day trading on Monday, reaching $17.65. 481,932 shares of the company were exchanged, compared to its average volume of 821,474. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 13.98. The stock has a market cap of $558.18 million, a PE ratio of -1.98 and a beta of 1.31. Forward Air has a 12 month low of $7.86 and a 12 month high of $31.17. The company has a fifty day moving average of $16.05 and a 200 day moving average of $17.48.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Forward Air from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 29th. Weiss Ratings raised shares of Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 8th. Susquehanna dropped their price target on shares of Forward Air from $29.00 to $25.00 and set a “positive” rating for the company in a research report on Friday, October 2nd. Wall Street Zen raised shares of Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Stifel Nicolaus set a $27.00 price target on shares of Forward Air in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.00.

Forward Air Company Profile

Forward Air Corporation (NASDAQ: FWRD) is a transportation and logistics company that provides time-definite freight and supply chain services. Its offerings include expedited less-than-truckload transportation, truckload services, intermodal and drayage operations, final-mile delivery, and other logistics solutions designed for shipments requiring reliable transit times.

The company serves businesses across North America and supports domestic and international supply chains through a network of terminals, transportation partners, and logistics facilities.