Forward Air (NASDAQ:FWRD – Free Report) had its price target boosted by Robert W. Baird from $14.00 to $17.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.
A number of other research firms also recently weighed in on FWRD. StockNews.com downgraded Forward Air from a hold rating to a sell rating in a research note on Monday, March 18th. Wolfe Research raised shares of Forward Air from an underperform rating to a peer perform rating in a research note on Tuesday, May 28th. Finally, Benchmark reaffirmed a hold rating on shares of Forward Air in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $76.86.
Check Out Our Latest Research Report on Forward Air
Forward Air Trading Up 0.6 %
Forward Air (NASDAQ:FWRD – Get Free Report) last released its earnings results on Wednesday, May 8th. The transportation company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.49). Forward Air had a net margin of 4.08% and a return on equity of 5.37%. The business had revenue of $541.81 million during the quarter, compared to the consensus estimate of $644.00 million. During the same period last year, the business posted $1.37 EPS. As a group, analysts anticipate that Forward Air will post -0.46 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Forward Air
Several large investors have recently modified their holdings of the stock. UMB Bank n.a. grew its stake in Forward Air by 413.5% in the 1st quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock valued at $26,000 after buying an additional 674 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Forward Air by 2,329.3% during the second quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock worth $38,000 after acquiring an additional 1,910 shares during the period. Headlands Technologies LLC grew its position in shares of Forward Air by 98.5% in the first quarter. Headlands Technologies LLC now owns 1,634 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 811 shares during the last quarter. TFO Wealth Partners LLC increased its stake in shares of Forward Air by 116,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock worth $73,000 after purchasing an additional 1,162 shares during the period. Finally, Spire Wealth Management acquired a new stake in Forward Air during the 1st quarter worth approximately $75,000. 97.03% of the stock is owned by institutional investors.
Forward Air Company Profile
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.
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