Forward Air (NASDAQ:FWRD) Earns “Hold” Rating from Benchmark

Benchmark restated their hold rating on shares of Forward Air (NASDAQ:FWRD) in a research note released on Wednesday morning, Benzinga reports.

A number of other research firms have also recently weighed in on FWRD. Stifel Nicolaus dropped their price objective on shares of Forward Air from $80.00 to $55.00 and set a hold rating on the stock in a report on Monday, January 22nd. Robert W. Baird dropped their price objective on shares of Forward Air from $50.00 to $40.00 and set a neutral rating on the stock in a report on Friday, March 1st. StockNews.com cut shares of Forward Air from a hold rating to a sell rating in a report on Monday, March 18th. Finally, Wolfe Research cut shares of Forward Air from a peer perform rating to an underperform rating and set a $50.00 price objective on the stock. in a report on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $80.14.

Forward Air Trading Down 3.3 %

Forward Air stock opened at $22.27 on Wednesday. The firm’s 50-day moving average is $30.18 and its 200-day moving average is $50.39. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.46 and a current ratio of 1.46. Forward Air has a 1 year low of $21.70 and a 1 year high of $121.38. The company has a market cap of $587.26 million, a P/E ratio of 3.47 and a beta of 0.98.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings results on Thursday, February 29th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.16). Forward Air had a return on equity of 15.30% and a net margin of 10.58%. The business had revenue of $338.43 million during the quarter, compared to the consensus estimate of $406.96 million. During the same quarter in the previous year, the business posted $1.65 earnings per share. The company’s quarterly revenue was down 16.0% compared to the same quarter last year. On average, equities analysts expect that Forward Air will post 0.56 earnings per share for the current year.

Institutional Trading of Forward Air

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. raised its position in shares of Forward Air by 413.5% during the 1st quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock worth $26,000 after buying an additional 674 shares in the last quarter. Rocky Mountain Advisers LLC acquired a new stake in Forward Air in the first quarter valued at approximately $93,000. Yousif Capital Management LLC lifted its stake in Forward Air by 7.5% in the first quarter. Yousif Capital Management LLC now owns 13,699 shares of the transportation company’s stock valued at $426,000 after acquiring an additional 950 shares during the last quarter. Spire Wealth Management acquired a new stake in Forward Air in the first quarter valued at approximately $75,000. Finally, Bfsg LLC acquired a new stake in Forward Air in the first quarter valued at approximately $259,000. 97.03% of the stock is currently 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.