Forward Air Co. (NASDAQ:FWRD – Get Free Report) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totalling 5,880,000 shares, a growth of 6.1% from the June 30th total of 5,540,000 shares. Approximately 31.7% of the shares of the company are short sold. Based on an average daily volume of 1,280,000 shares, the short-interest ratio is currently 4.6 days.
Forward Air Trading Down 5.4 %
Shares of FWRD opened at $23.98 on Friday. The firm has a 50 day moving average price of $20.56 and a 200-day moving average price of $27.91. Forward Air has a fifty-two week low of $11.21 and a fifty-two week high of $119.15. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market cap of $634.03 million, a price-to-earnings ratio of 7.01 and a beta of 1.00.
Forward Air (NASDAQ:FWRD – Get Free Report) last posted 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). Forward Air had a net margin of 4.08% and a return on equity of 5.37%. The firm had revenue of $541.81 million for the quarter, compared to the consensus estimate of $644.00 million. During the same quarter in the prior year, the company earned $1.37 earnings per share. As a group, equities research analysts forecast that Forward Air will post -0.46 earnings per share for the current year.
Institutional Investors Weigh In On Forward Air
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 research note on Tuesday, May 28th. Robert W. Baird boosted their price objective on shares of Forward Air from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, July 3rd. Finally, Benchmark reaffirmed a “hold” rating on shares of Forward Air in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $76.86.
View Our Latest Stock Analysis on FWRD
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.
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