Forward Air (NASDAQ:FWRD) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Forward Air Corporation (NASDAQ:FWRD) shares crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $17.22 and traded as high as $17.61. Forward Air shares last traded at $17.39, with a volume of 438,433 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FWRD shares. Wall Street Zen raised Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research upgraded shares of Forward Air from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 29th. Weiss Ratings raised shares of Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 8th. Susquehanna reduced their price objective on shares of Forward Air from $29.00 to $25.00 and set a “positive” rating for the company in a research report on Friday, October 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $28.00 price objective (up from $27.00) on shares of Forward Air in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Forward Air Price Performance

The company has a current ratio of 1.41, a quick ratio of 1.32 and a debt-to-equity ratio of 13.98. The stock has a market cap of $586.91 million, a PE ratio of -2.16 and a beta of 1.31. The business has a 50-day moving average price of $16.15 and a 200 day moving average price of $17.22.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Monday, November 9th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.21. The business had revenue of $673.86 million for the quarter, compared to analysts’ expectations of $673.40 million. Forward Air had a positive return on equity of 78.18% and a negative net margin of 10.10%. As a group, research analysts forecast that Forward Air Corporation will post -0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Forward Air

Hedge funds and other institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new position in Forward Air in the 2nd quarter worth $28,000. Allied Private Wealth LLC bought a new stake in shares of Forward Air during the 2nd quarter valued at about $57,000. Fifth Third Bancorp boosted its stake in shares of Forward Air by 2,397.7% during the 1st quarter. Fifth Third Bancorp now owns 5,495 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 5,275 shares in the last quarter. State of Wyoming purchased a new position in shares of Forward Air during the second quarter valued at about $102,000. Finally, Corient Private Wealth LP purchased a new position in shares of Forward Air during the second quarter valued at about $146,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Forward Air Company Profile

Forward Air Corporation is a transportation and logistics company that specializes in expedited freight and time-sensitive shipments. Its services include less-than-truckload transportation, truckload services, intermodal drayage, freight forwarding and other logistics solutions. The company’s ground transportation network connects major North American markets and includes services supporting air cargo shipments. Following its acquisition of Omni Logistics, Forward Air also offers international freight forwarding, customs brokerage and related supply-chain services.