Forward Air (NASDAQ:FWRD) Sets New 52-Week Low at $20.95

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

Analyst Ratings Changes

Several equities research analysts have issued reports on FWRD shares. Benchmark reiterated a “hold” rating on shares of Forward Air in a research report on Wednesday, April 24th. Robert W. Baird cut 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. Wolfe Research cut 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 note on Wednesday, January 10th. StockNews.com cut shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Finally, Stifel Nicolaus reduced their price objective on Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a research note on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Forward Air currently has a consensus rating of “Hold” and a consensus target price of $80.14.

Forward Air Stock Performance

The firm has a market capitalization of $556.93 million, a P/E ratio of 3.36 and a beta of 1.06. The company has a 50-day simple moving average of $28.75 and a two-hundred day simple moving average of $48.83. 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 posted its quarterly earnings data on Thursday, February 29th. The transportation company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.16). The business had revenue of $338.43 million for the quarter, compared to the consensus estimate of $406.96 million. Forward Air had a return on equity of 15.30% and a net margin of 10.58%. The company’s revenue was down 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. As a group, equities analysts forecast that Forward Air Co. will post 0.56 EPS for the current year.

Hedge Funds Weigh In On Forward Air

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC increased its holdings in shares of Forward Air by 86.9% in the third quarter. CWM LLC now owns 669 shares of the transportation company’s stock worth $46,000 after purchasing an additional 311 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Forward Air during the 4th quarter worth about $52,000. UMB Bank n.a. grew its stake in shares of 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 buying an additional 674 shares during the last quarter. Signaturefd LLC increased its stake in Forward Air by 306.9% in the third quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock worth $65,000 after purchasing an additional 715 shares during the period. Finally, TFO Wealth Partners LLC boosted 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 valued at $73,000 after buying an additional 1,162 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.