Forward Air (NASDAQ:FWRD) Sets New 12-Month Low at $20.95

Shares of Forward Air Co. (NASDAQ:FWRD) reached a new 52-week low during trading on Thursday . The stock traded as low as $20.95 and last traded at $21.12, with a volume of 590981 shares changing hands. The stock had previously closed at $21.05.

Analyst Ratings Changes

FWRD has been the topic of several recent research reports. Wolfe Research lowered Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a research report on Wednesday, January 10th. Robert W. Baird decreased their price target on shares of Forward Air from $50.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, March 1st. Stifel Nicolaus lowered their price objective on Forward Air from $80.00 to $55.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. StockNews.com cut Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Finally, Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Forward Air has a consensus rating of “Hold” and a consensus target price of $80.14.

Forward Air Trading Up 0.3 %

The firm has a market cap of $556.93 million, a PE ratio of 3.36 and a beta of 1.06. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 2.38. The company has a 50-day simple moving average of $28.75 and a 200 day simple moving average of $48.83.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Thursday, February 29th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.16). The firm had revenue of $338.43 million during the quarter, compared to analyst estimates of $406.96 million. Forward Air had a return on equity of 15.30% and a net margin of 10.58%. The company’s quarterly revenue was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 earnings per share. As a group, sell-side analysts forecast that Forward Air Co. will post 0.56 earnings per share for the current fiscal year.

Institutional Trading of Forward Air

Large investors have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC acquired a new position in shares of Forward Air in the third quarter valued at approximately $17,743,000. Jacobs Levy Equity Management Inc. acquired a new position in Forward Air in the 3rd quarter valued at $27,870,000. UBS Group AG raised its holdings in Forward Air by 809.8% during the third quarter. UBS Group AG now owns 683,566 shares of the transportation company’s stock worth $46,988,000 after purchasing an additional 608,430 shares in the last quarter. Jump Financial LLC acquired a new position in Forward Air during the third quarter worth $1,895,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Forward Air by 7.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 673,369 shares of the transportation company’s stock worth $46,287,000 after purchasing an additional 45,912 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, 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.