A number of other brokerages have also weighed in on FWRD. BidaskClub lowered shares of Forward Air Corporation from a sell rating to a strong sell rating in a report on Tuesday, August 1st. Stifel Nicolaus boosted their price objective on shares of Forward Air Corporation from $46.00 to $47.00 and gave the stock a hold rating in a report on Friday, April 28th. Finally, Zacks Investment Research lowered shares of Forward Air Corporation from a buy rating to a hold rating in a report on Monday, May 29th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $51.25.
Forward Air Corporation (FWRD) opened at 50.98 on Tuesday. The firm’s 50-day moving average is $52.48 and its 200 day moving average is $50.55. Forward Air Corporation has a 52-week low of $40.07 and a 52-week high of $56.52. The firm has a market capitalization of $1.54 billion, a P/E ratio of 26.66 and a beta of 1.06.
Forward Air Corporation (NASDAQ:FWRD) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.06. Forward Air Corporation had a net margin of 5.68% and a return on equity of 13.31%. The business had revenue of $267.50 million during the quarter, compared to analyst estimates of $256.98 million. During the same period in the previous year, the business posted $0.57 earnings per share. Forward Air Corporation’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts anticipate that Forward Air Corporation will post $2.35 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Wednesday, August 23rd. Forward Air Corporation’s payout ratio is currently 31.25%.
In other Forward Air Corporation news, Chairman Bruce A. Campbell sold 20,529 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $51.64, for a total transaction of $1,060,117.56. Following the transaction, the chairman now owns 203,235 shares in the company, valued at approximately $10,495,055.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael P. Mclean sold 15,718 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $51.05, for a total transaction of $802,403.90. Following the transaction, the chief accounting officer now owns 20,559 shares in the company, valued at approximately $1,049,536.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,831 shares of company stock worth $2,836,938. Company insiders own 2.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Guggenheim Capital LLC raised its stake in Forward Air Corporation by 61.2% in the fourth quarter. Guggenheim Capital LLC now owns 10,368 shares of the transportation company’s stock valued at $491,000 after buying an additional 3,938 shares in the last quarter. Norges Bank purchased a new stake in Forward Air Corporation during the fourth quarter valued at about $12,003,000. Teachers Advisors LLC raised its stake in shares of Forward Air Corporation by 2.4% in the fourth quarter. Teachers Advisors LLC now owns 48,418 shares of the transportation company’s stock worth $2,294,000 after buying an additional 1,149 shares during the period. Confluence Investment Management LLC raised its stake in shares of Forward Air Corporation by 25.5% in the first quarter. Confluence Investment Management LLC now owns 68,729 shares of the transportation company’s stock worth $3,269,000 after buying an additional 13,978 shares during the period. Finally, First National Bank of Omaha raised its stake in shares of Forward Air Corporation by 31.0% in the first quarter. First National Bank of Omaha now owns 31,024 shares of the transportation company’s stock worth $1,476,000 after buying an additional 7,345 shares during the period. 98.36% of the stock is owned by institutional investors.
About Forward Air Corporation
Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.
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