Forward Air (NASDAQ:FWRD) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Forward Air (NASDAQ:FWRD) had its target price upped by investment analysts at Stifel Nicolaus from $19.00 to $27.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 39.53% from the stock’s current price.

FWRD has been the subject of a number of other reports. Susquehanna reduced their target price on shares of Forward Air from $42.00 to $18.00 and set a “positive” rating for the company in a research note on Friday, May 8th. Zacks Research upgraded shares of Forward Air from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Forward Air in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Forward Air Stock Performance

Shares of NASDAQ FWRD opened at $19.35 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 13.98. The firm’s 50-day moving average price is $13.60 and its two-hundred day moving average price is $17.98. Forward Air has a 52-week low of $7.86 and a 52-week high of $32.00. The stock has a market capitalization of $611.85 million, a P/E ratio of -2.17 and a beta of 1.36.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Thursday, May 7th. The transportation company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.74). Forward Air had a negative return on equity of 19.49% and a negative net margin of 11.37%.The company had revenue of $582.05 million for the quarter, compared to analyst estimates of $620.23 million. During the same quarter in the previous year, the company posted ($1.68) earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Forward Air will post -1.08 earnings per share for the current year.

Institutional Investors Weigh In On Forward Air

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AlpInvest Partners B.V. bought a new position in Forward Air during the second quarter worth $1,396,000. Carlyle Group Inc. bought a new position in shares of Forward Air during the 2nd quarter worth about $1,448,000. BlackRock Inc. acquired a new position in shares of Forward Air during the second quarter valued at about $37,485,000. Deutsche Bank AG bought a new stake in shares of Forward Air in the second quarter valued at about $8,293,000. Finally, Persistent Asset Partners Ltd bought a new stake in shares of Forward Air in the second quarter valued at about $148,000. Institutional investors and hedge funds 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.