Forward Air (NASDAQ:FWRD) Trading Down 3.6% – Here’s Why

Forward Air Corporation (NASDAQ:FWRD) shares fell 3.6% on Monday . The stock traded as low as $16.60 and last traded at $16.7850. 25,878 shares were traded during mid-day trading, a decline of 96% from the average session volume of 665,382 shares. The stock had previously closed at $17.41.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Forward Air from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Zacks Research lowered Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Susquehanna reissued a “positive” rating and issued a $42.00 price target on shares of Forward Air in a report on Tuesday, February 24th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and two have given 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 $37.00.

Forward Air Trading Down 1.8%

The company has a debt-to-equity ratio of 10.58, a quick ratio of 1.22 and a current ratio of 1.22. The company’s fifty day moving average is $23.08 and its two-hundred day moving average is $23.57. The company has a market cap of $539.41 million, a price-to-earnings ratio of -4.85 and a beta of 1.46.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Invesco Ltd. raised its position in Forward Air by 20.8% during the fourth quarter. Invesco Ltd. now owns 268,960 shares of the transportation company’s stock valued at $6,724,000 after acquiring an additional 46,240 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Forward Air during the 4th quarter worth approximately $36,000. SummitTX Capital L.P. acquired a new stake in shares of Forward Air during the 4th quarter worth approximately $4,030,000. One68 Global Capital LLC purchased a new position in shares of Forward Air during the 4th quarter valued at approximately $225,000. Finally, Inspire Investing LLC lifted its stake in shares of Forward Air by 6.0% in the 4th quarter. Inspire Investing LLC now owns 18,636 shares of the transportation company’s stock valued at $466,000 after purchasing an additional 1,055 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

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.