Forward Air (NASDAQ:FWRD) Reaches New 12-Month Low at $21.70

Forward Air Co. (NASDAQ:FWRD)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $21.70 and last traded at $22.06, with a volume of 291669 shares. The stock had previously closed at $23.04.

Analyst Upgrades and Downgrades

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

Forward Air Stock Performance

The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.46 and a current ratio of 1.46. The stock’s 50 day moving average price is $30.18 and its 200 day moving average price is $50.39. The company has a market capitalization of $587.26 million, a P/E ratio of 3.47 and a beta of 0.98.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings results on Thursday, February 29th. The transportation company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.16). Forward Air had a net margin of 10.58% and a return on equity of 15.30%. The firm had revenue of $338.43 million for the quarter, compared to the consensus estimate of $406.96 million. During the same period last year, the company posted $1.65 EPS. The business’s revenue was down 16.0% compared to the same quarter last year. As a group, equities analysts expect that Forward Air Co. will post 0.56 EPS for the current year.

Hedge Funds Weigh In On Forward Air

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC grew its position in shares of Forward Air by 86.9% during the 3rd quarter. CWM LLC now owns 669 shares of the transportation company’s stock worth $46,000 after buying an additional 311 shares during the period. Headlands Technologies LLC bought a new position in shares of Forward Air in the fourth quarter valued at $52,000. Signaturefd LLC lifted its position in Forward Air by 306.9% in the 3rd quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock valued at $65,000 after acquiring an additional 715 shares in the last quarter. TFO Wealth Partners LLC boosted its stake in Forward Air by 116,200.0% during the 4th 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 bought a new stake in Forward Air during the 1st quarter worth approximately $75,000. 97.03% of the stock is 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 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.