Forward Air (NASDAQ:FWRD) Trading Down 6.8%

Forward Air Co. (NASDAQ:FWRD)’s share price dropped 6.8% during trading on Friday . The stock traded as low as $25.79 and last traded at $25.79. Approximately 103,135 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,091,738 shares. The stock had previously closed at $27.67.

Wall Street Analyst Weigh In

FWRD has been the topic of several research reports. Benchmark reiterated a “hold” rating on shares of Forward Air in a research report on Wednesday, April 24th. Robert W. Baird boosted their price target on shares of Forward Air from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. Finally, Wolfe Research upgraded shares of Forward Air from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Forward Air has a consensus rating of “Hold” and a consensus target price of $76.86.

Forward Air Trading Down 7.0 %

The company has a fifty day simple moving average of $19.60 and a 200-day simple moving average of $29.09. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.27. The stock has a market cap of $680.30 million, a price-to-earnings ratio of 7.54 and a beta of 1.00.

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

Hedge Funds Weigh In On Forward Air

Institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. grew its stake in Forward Air by 413.5% during the 1st quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 674 shares in the last quarter. Gladius Capital Management LP grew its stake in Forward Air by 33.5% during the 2nd quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 493 shares in the last quarter. GAMMA Investing LLC grew its stake in Forward Air by 2,329.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 1,910 shares in the last quarter. Headlands Technologies LLC grew its stake in Forward Air by 98.5% during the 1st quarter. Headlands Technologies LLC now owns 1,634 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 811 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its stake in Forward Air by 116,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock valued at $73,000 after acquiring an additional 1,162 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.