Forward Air (NASDAQ:FWRD) Hits New 12-Month Low at $22.30

Forward Air Co. (NASDAQ:FWRD) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $22.30 and last traded at $22.62, with a volume of 106566 shares changing hands. The stock had previously closed at $22.65.

Analyst Ratings Changes

Several brokerages have issued reports on FWRD. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a research report on Thursday. Robert W. Baird dropped their target price on Forward Air from $50.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, March 1st. Wolfe Research cut Forward Air from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a research report on Wednesday, January 10th. Stifel Nicolaus lowered their price objective on Forward Air from $80.00 to $55.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Finally, StockNews.com cut Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.14.

Forward Air Price Performance

The company has a market cap of $627.08 million, a PE ratio of 3.70 and a beta of 0.98. 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 has a 50 day moving average of $31.61 and a 200-day moving average of $51.70.

Forward Air (NASDAQ:FWRD) last issued its earnings results on Thursday, February 29th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.16). The firm had revenue of $338.43 million during the quarter, compared to analysts’ expectations of $406.96 million. Forward Air had a return on equity of 15.30% and a net margin of 10.58%. The business’s revenue was down 16.0% on a year-over-year basis. During the same quarter last year, the business earned $1.65 EPS. Equities analysts predict that Forward Air Co. will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On Forward Air

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP raised its stake in Forward Air by 156.2% in the 4th quarter. Quarry LP now owns 456 shares of the transportation company’s stock worth $29,000 after acquiring an additional 278 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Forward Air during the 1st quarter valued at about $45,000. Rockefeller Capital Management L.P. raised its stake in shares of Forward Air by 39.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the transportation company’s stock valued at $68,000 after buying an additional 185 shares during the last quarter. CWM LLC raised its stake in shares of Forward Air by 86.9% during the 3rd quarter. CWM LLC now owns 669 shares of the transportation company’s stock valued at $46,000 after buying an additional 311 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Forward Air by 137.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 761 shares of the transportation company’s stock valued at $82,000 after buying an additional 441 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.