Forward Air (NASDAQ:FWRD) Stock Price Down 8% – Should You Sell?

Forward Air Corporation (NASDAQ:FWRD)’s stock price traded down 8% during trading on Friday . The stock traded as low as $21.85 and last traded at $21.96. 257,291 shares were traded during mid-day trading, a decline of 56% from the average session volume of 585,931 shares. The stock had previously closed at $23.88.

Analysts Set New Price Targets

FWRD has been the topic of a number of recent analyst reports. Susquehanna reissued a “positive” rating and set a $42.00 price target on shares of Forward Air in a research report on Tuesday, February 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a research report on Thursday, January 22nd. Stifel Nicolaus lifted their target price on Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Finally, Zacks Research cut Forward Air from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Forward Air currently has a consensus rating of “Hold” and a consensus price target of $37.00.

Forward Air Trading Down 8.1%

The company has a quick ratio of 1.20, a current ratio of 1.22 and a debt-to-equity ratio of 10.58. The company has a market capitalization of $685.63 million, a P/E ratio of -6.23 and a beta of 1.33. The business has a fifty day moving average price of $27.04 and a 200 day moving average price of $25.38.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Monday, February 23rd. The transportation company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Forward Air had a negative return on equity of 42.67% and a negative net margin of 4.32%.The firm had revenue of $631.23 million for the quarter, compared to the consensus estimate of $629.60 million. During the same quarter in the previous year, the business posted ($1.23) earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts expect that Forward Air Corporation will post -0.72 earnings per share for the current fiscal year.

Institutional Trading of Forward Air

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank lifted its position in shares of Forward Air by 8.5% in the second quarter. Amalgamated Bank now owns 6,174 shares of the transportation company’s stock worth $152,000 after purchasing an additional 484 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Forward Air by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock valued at $299,000 after buying an additional 624 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in Forward Air by 12.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,725 shares of the transportation company’s stock worth $140,000 after buying an additional 629 shares in the last quarter. AQR Capital Management LLC lifted its position in Forward Air by 7.0% during the 1st quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock worth $201,000 after buying an additional 654 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Forward Air by 1.5% during the 4th quarter. LPL Financial LLC now owns 43,228 shares of the transportation company’s stock worth $1,081,000 after buying an additional 655 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Forward Air Company Profile

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.