Benchmark Reiterates Hold Rating for Forward Air (NASDAQ:FWRD)

Benchmark reiterated their hold rating on shares of Forward Air (NASDAQ:FWRD) in a research report report published on Wednesday, Benzinga reports.

Several other brokerages have also commented on FWRD. Wolfe Research lowered Forward Air from a peer perform rating to an underperform rating and set a $50.00 price target for the company. in a research note on Wednesday, January 10th. Stifel Nicolaus dropped their price target on Forward Air from $80.00 to $55.00 and set a hold rating for the company in a research note on Monday, January 22nd. Robert W. Baird dropped their price target on Forward Air from $50.00 to $40.00 and set a neutral rating for the company in a research note on Friday, March 1st. Finally, StockNews.com lowered Forward Air from a hold rating to a sell rating in a research note on Monday, March 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Forward Air has a consensus rating of Hold and a consensus target price of $80.14.

Forward Air Price Performance

Shares of NASDAQ:FWRD opened at $23.30 on Wednesday. Forward Air has a one year low of $22.08 and a one year high of $121.38. The stock has a market cap of $614.42 million, a PE ratio of 3.63 and a beta of 0.98. The business’s fifty day moving average price is $30.90 and its two-hundred day moving average price is $50.78. 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 (NASDAQ:FWRD) last issued its earnings results on Thursday, February 29th. The transportation company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.16). Forward Air had a return on equity of 15.30% and a net margin of 10.58%. The firm had revenue of $338.43 million during the quarter, compared to analysts’ expectations of $406.96 million. During the same period last 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, analysts forecast that Forward Air will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Forward Air

Several institutional investors and hedge funds have recently modified their holdings of FWRD. CWM LLC boosted its holdings in Forward Air by 86.9% in the third quarter. CWM LLC now owns 669 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 311 shares during the last quarter. Headlands Technologies LLC purchased a new position in Forward Air in the fourth quarter valued at about $52,000. Signaturefd LLC boosted its holdings in Forward Air by 306.9% in the third quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock valued at $65,000 after purchasing an additional 715 shares during the last quarter. TFO Wealth Partners LLC boosted its holdings in Forward Air by 116,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock valued at $73,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Spire Wealth Management purchased a new position in Forward Air in the first quarter valued at about $75,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

About Forward Air

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.