Forward Air (NASDAQ:FWRD) Sets New 12-Month Low at $20.50

Shares of Forward Air Co. (NASDAQ:FWRD) reached a new 52-week low during trading on Wednesday . The stock traded as low as $20.50 and last traded at $21.19, with a volume of 52380 shares trading hands. The stock had previously closed at $20.91.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stifel Nicolaus decreased their target price on Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a research report on Monday, January 22nd. Benchmark restated a “hold” rating on shares of Forward Air in a research note on Wednesday, April 24th. Robert W. Baird reduced their price objective on shares of Forward Air from $50.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, March 1st. Wolfe Research downgraded shares of Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a research note on Wednesday, January 10th. Finally, StockNews.com cut shares of Forward Air from a “hold” rating to a “sell” rating in a report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $80.14.

Forward Air Price Performance

The company has a fifty day simple moving average of $27.27 and a two-hundred day simple moving average of $47.10. The stock has a market capitalization of $555.35 million, a price-to-earnings ratio of 3.27 and a beta of 1.06. 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 announced its earnings results on Thursday, February 29th. The transportation company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $406.96 million. During the same period in the prior year, the business earned $1.65 EPS. Forward Air’s quarterly revenue was down 16.0% on a year-over-year basis. As a group, equities research analysts expect that Forward Air Co. will post 0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of Forward Air during the fourth quarter valued at approximately $52,000. UMB Bank n.a. raised its stake in Forward Air by 413.5% during the first quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 674 shares in the last quarter. Signaturefd LLC increased its position in shares of Forward Air by 306.9% during the 3rd 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 raised its position in Forward Air by 116,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock worth $73,000 after purchasing an additional 1,162 shares during the period. Finally, Anchor Investment Management LLC bought a new stake in shares of Forward Air during the fourth quarter worth $99,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

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.