Forward Air (NASDAQ:FWRD) Trading Up 3.7%

Forward Air Co. (NASDAQ:FWRD)’s share price was up 3.7% on Monday . The stock traded as high as $21.71 and last traded at $21.65. Approximately 56,174 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 1,102,154 shares. The stock had previously closed at $20.88.

Analysts Set New Price Targets

FWRD has been the subject of several recent research reports. Wolfe Research upgraded shares of Forward Air from an “underperform” rating to a “peer perform” rating in a report on Tuesday, May 28th. StockNews.com cut shares of Forward Air from a “hold” rating to a “sell” rating in a report on Monday, March 18th. Robert W. Baird reduced their target price on shares of Forward Air from $24.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Finally, Benchmark restated a “hold” rating on shares of Forward Air in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $76.43.

Forward Air Trading Down 2.4 %

The stock has a market cap of $554.71 million, a price-to-earnings ratio of 6.13 and a beta of 0.99. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.27. The business’s 50 day simple moving average is $19.53 and its 200 day simple moving average is $36.66.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Wednesday, May 8th. The transportation company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.49). The firm had revenue of $541.81 million during the quarter, compared to analyst estimates of $644.00 million. Forward Air had a net margin of 4.08% and a return on equity of 5.37%. During the same quarter in the prior year, the business earned $1.37 EPS. On average, research analysts expect that Forward Air Co. will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Forward Air

Large investors have recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC bought a new position in shares of Forward Air in the third quarter valued at about $17,743,000. Norges Bank bought a new position in shares of Forward Air in the fourth quarter valued at about $43,281,000. Schroder Investment Management Group increased its position in Forward Air by 23.4% during the fourth quarter. Schroder Investment Management Group now owns 410,664 shares of the transportation company’s stock worth $25,818,000 after acquiring an additional 77,909 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Forward Air during the third quarter worth about $27,870,000. Finally, Trexquant Investment LP bought a new position in Forward Air during the fourth quarter worth about $1,701,000. 97.03% of the stock is owned by institutional investors.

About Forward Air

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.