Investment Analysts’ Recent Ratings Updates for Forward Air (FWRD)

Several analysts have recently updated their ratings and price targets for Forward Air (NASDAQ: FWRD):

  • 6/26/2019 – Forward Air was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 6/17/2019 – Forward Air was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 6/10/2019 – Forward Air was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 6/7/2019 – Forward Air was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 5/30/2019 – Forward Air was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 5/24/2019 – Forward Air was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 5/23/2019 – Forward Air was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 5/17/2019 – Forward Air was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 4/30/2019 – Forward Air was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “

Shares of NASDAQ:FWRD opened at $56.93 on Wednesday. The stock has a market capitalization of $1.65 billion, a P/E ratio of 18.25 and a beta of 1.60. The company has a 50-day moving average price of $58.83. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.09. Forward Air Co. has a fifty-two week low of $51.54 and a fifty-two week high of $72.81.

Forward Air (NASDAQ:FWRD) last released its earnings results on Wednesday, April 24th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $321.47 million during the quarter, compared to the consensus estimate of $324.22 million. Forward Air had a net margin of 6.92% and a return on equity of 16.88%. Forward Air’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share. As a group, sell-side analysts forecast that Forward Air Co. will post 3.27 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 1.26%. Forward Air’s dividend payout ratio is presently 23.08%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. United Services Automobile Association raised its holdings in shares of Forward Air by 1.0% in the fourth quarter. United Services Automobile Association now owns 164,228 shares of the transportation company’s stock valued at $9,008,000 after buying an additional 1,670 shares during the last quarter. Tributary Capital Management LLC grew its position in Forward Air by 13.0% during the first quarter. Tributary Capital Management LLC now owns 436,404 shares of the transportation company’s stock worth $28,248,000 after buying an additional 50,208 shares in the last quarter. Piedmont Investment Advisors Inc. grew its position in Forward Air by 2.9% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 6,951 shares of the transportation company’s stock worth $381,000 after buying an additional 199 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Forward Air by 8.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 17,989 shares of the transportation company’s stock worth $986,000 after buying an additional 1,402 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in Forward Air by 3.6% during the first quarter. Great West Life Assurance Co. Can now owns 39,383 shares of the transportation company’s stock worth $2,549,000 after buying an additional 1,373 shares in the last quarter. Hedge funds and other institutional investors own 95.34% of the company’s stock.

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-Than-Truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).

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