Forward Air (NASDAQ:FWRD) Stock Rating Upgraded by Zacks Research

Forward Air (NASDAQ:FWRD) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a research report on Tuesday, April 21st. Susquehanna dropped their price objective on Forward Air from $42.00 to $18.00 and set a “positive” rating for the company in a research note on Friday, May 8th. Finally, Stifel Nicolaus set a $17.00 price objective on Forward Air in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.50.

Forward Air Stock Performance

NASDAQ FWRD opened at $12.18 on Tuesday. The business’s 50-day moving average price is $12.47 and its 200 day moving average price is $19.70. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 13.98. The firm has a market cap of $385.13 million, a P/E ratio of -4.16 and a beta of 1.36. Forward Air has a 52-week low of $7.86 and a 52-week high of $32.47.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Thursday, May 7th. The transportation company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.74). The firm had revenue of $582.05 million during the quarter, compared to analyst estimates of $620.23 million. Forward Air had a negative net margin of 3.71% and a negative return on equity of 41.21%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.68) earnings per share. On average, equities research analysts expect that Forward Air will post -1.08 earnings per share for the current year.

Institutional Trading of Forward Air

Several large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Forward Air by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock valued at $299,000 after purchasing an additional 624 shares during the period. AQR Capital Management LLC boosted its stake in shares of Forward Air by 7.0% in the first quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock valued at $201,000 after purchasing an additional 654 shares during the period. LPL Financial LLC grew its holdings in Forward Air by 1.5% during the 4th quarter. LPL Financial LLC now owns 43,228 shares of the transportation company’s stock valued at $1,081,000 after purchasing an additional 655 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Forward Air by 5.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 15,436 shares of the transportation company’s stock valued at $379,000 after purchasing an additional 762 shares in the last quarter. Finally, Logan Capital Management Inc. increased its stake in Forward Air by 11.7% during the 3rd quarter. Logan Capital Management Inc. now owns 7,575 shares of the transportation company’s stock worth $194,000 after buying an additional 791 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

About Forward Air

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.