Forward Air (NASDAQ:FWRD) Stock Price Up 6.1%

Forward Air Co. (NASDAQ:FWRD)’s share price shot up 6.1% during trading on Wednesday . The company traded as high as $20.33 and last traded at $20.25. 117,231 shares changed hands during trading, a decline of 90% from the average session volume of 1,145,250 shares. The stock had previously closed at $19.08.

Analyst Ratings Changes

A number of analysts have issued reports on FWRD shares. StockNews.com lowered shares of Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, March 18th. Benchmark reiterated a “hold” rating on shares of Forward Air in a report on Wednesday, April 24th. Wolfe Research upgraded shares of Forward Air from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, May 28th. Finally, Robert W. Baird cut their price objective on Forward Air from $24.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $76.43.

Forward Air Trading Up 1.1 %

The stock has a market cap of $525.63 million, a price-to-earnings ratio of 5.81 and a beta of 0.99. The business’s 50 day moving average is $18.78 and its 200 day moving average is $34.88. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.28 and a quick ratio of 1.28.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Wednesday, May 8th. The transportation company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.49). Forward Air had a return on equity of 5.37% and a net margin of 4.08%. The business had revenue of $541.81 million for the quarter, compared to analyst estimates of $644.00 million. During the same period in the prior year, the company posted $1.37 earnings per share. As a group, equities analysts expect that Forward Air Co. will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of Forward Air

Institutional investors have recently modified their holdings of the stock. Deutsche Bank AG lifted its position in Forward Air by 14.8% in the third quarter. Deutsche Bank AG now owns 14,374 shares of the transportation company’s stock valued at $988,000 after acquiring an additional 1,850 shares during the last quarter. FMR LLC lifted its holdings in shares of Forward Air by 43.2% in the 3rd quarter. FMR LLC now owns 243,189 shares of the transportation company’s stock valued at $16,717,000 after purchasing an additional 73,335 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Forward Air by 19.0% in the 3rd quarter. Northern Trust Corp now owns 440,405 shares of the transportation company’s stock valued at $30,273,000 after purchasing an additional 70,196 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Forward Air in the 3rd quarter valued at about $558,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Forward Air during the 3rd quarter worth approximately $841,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Company Profile

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.