Forward Air (NASDAQ:FWRD) Shares Gap Up – Still a Buy?

Forward Air Corporation (NASDAQ:FWRD) gapped up prior to trading on Tuesday . The stock had previously closed at $13.20, but opened at $15.15. Forward Air shares last traded at $15.8680, with a volume of 1,943,234 shares.

Analyst Ratings Changes

Several research analysts have weighed in on FWRD shares. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a research note on Friday, July 17th. Stifel Nicolaus set a $19.00 target price on shares of Forward Air in a report on Tuesday. Zacks Research upgraded shares of Forward Air from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Susquehanna cut their target price on shares of Forward Air from $42.00 to $18.00 and set a “positive” rating for the company in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.50.

Forward Air Price Performance

The company has a market cap of $508.13 million, a P/E ratio of -5.48 and a beta of 1.36. The firm’s 50-day moving average is $12.09 and its two-hundred day moving average is $18.89. The company has a debt-to-equity ratio of 13.98, a current ratio of 1.23 and a quick ratio of 1.23.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Thursday, May 7th. The transportation company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.74). Forward Air had a negative net margin of 3.71% and a negative return on equity of 41.21%. The business had revenue of $582.05 million for the quarter, compared to the consensus estimate of $620.23 million. During the same quarter last year, the business earned ($1.68) EPS. Forward Air’s revenue for the quarter was down 5.1% compared to the same quarter last year. Analysts anticipate that Forward Air Corporation will post -1.08 earnings per share for the current year.

Institutional Investors Weigh In On Forward Air

Large investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC lifted its stake in shares of Forward Air by 8.5% in the 3rd quarter. Ancora Advisors LLC now owns 1,475,055 shares of the transportation company’s stock valued at $37,820,000 after purchasing an additional 116,012 shares during the last quarter. State Street Corp lifted its position in Forward Air by 2.1% in the fourth quarter. State Street Corp now owns 949,784 shares of the transportation company’s stock worth $23,745,000 after buying an additional 19,854 shares during the last quarter. Melqart Asset Management UK Ltd lifted its position in Forward Air by 122.3% in the fourth quarter. Melqart Asset Management UK Ltd now owns 849,876 shares of the transportation company’s stock worth $21,247,000 after buying an additional 467,482 shares during the last quarter. Cibc World Market Inc. boosted its stake in Forward Air by 3.8% during the fourth quarter. Cibc World Market Inc. now owns 784,731 shares of the transportation company’s stock worth $19,618,000 after buying an additional 28,693 shares during the period. Finally, Bank of America Corp DE increased its position in Forward Air by 24.7% during the second quarter. Bank of America Corp DE now owns 611,316 shares of the transportation company’s stock valued at $15,002,000 after acquiring an additional 121,190 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

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.