Forward Air (NASDAQ:FWRD) Upgraded to “Buy” by BidaskClub

Forward Air (NASDAQ:FWRD) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday, BidAskClub reports.

Several other brokerages have also commented on FWRD. Zacks Investment Research lowered shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Deutsche Bank increased their price objective on shares of Rockwell Automation from $173.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $70.00.

Shares of Forward Air stock traded down $0.70 during midday trading on Tuesday, hitting $61.17. The company had a trading volume of 100 shares, compared to its average volume of 143,602. The stock has a market capitalization of $1.82 billion, a PE ratio of 19.61 and a beta of 1.55. The company has a current ratio of 1.41, a quick ratio of 1.73 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average price of $59.38. Forward Air has a 12-month low of $51.54 and a 12-month high of $72.81.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Thursday, July 25th. The transportation company reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.04). The company had revenue of $345.76 million during the quarter, compared to analysts’ expectations of $348.07 million. Forward Air had a net margin of 6.70% and a return on equity of 17.18%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. As a group, sell-side analysts anticipate that Forward Air will post 3.26 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Forward Air during the 2nd quarter worth approximately $47,000. Quantamental Technologies LLC grew its stake in shares of Forward Air by 10.7% during the 1st quarter. Quantamental Technologies LLC now owns 1,991 shares of the transportation company’s stock worth $129,000 after purchasing an additional 193 shares during the period. Wesbanco Bank Inc. acquired a new stake in shares of Forward Air during the 1st quarter worth approximately $207,000. CWM Advisors LLC grew its stake in shares of Forward Air by 11.9% during the 2nd quarter. CWM Advisors LLC now owns 3,568 shares of the transportation company’s stock worth $211,000 after purchasing an additional 379 shares during the period. Finally, Parametrica Management Ltd acquired a new stake in shares of Forward Air during the 1st quarter worth approximately $220,000. 92.76% of the stock is currently owned by institutional investors and hedge funds.

About Forward Air

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-Than-Truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).

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