Forward Air (NASDAQ:FWRD) Hits New 1-Year Low at $20.50

Forward Air Co. (NASDAQ:FWRD) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $20.50 and last traded at $21.19, with a volume of 52380 shares trading hands. The stock had previously closed at $20.91.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FWRD shares. Robert W. Baird dropped their price target on Forward Air from $50.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, March 1st. StockNews.com downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Stifel Nicolaus dropped their price objective on shares of Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a research note on Monday, January 22nd. Finally, Benchmark reiterated a “hold” rating on shares of Forward Air in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Forward Air currently has a consensus rating of “Hold” and an average target price of $80.14.

Forward Air Stock Performance

The company has a market cap of $441.96 million, a P/E ratio of 2.61 and a beta of 1.06. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 2.38. The company’s 50-day moving average is $26.51 and its two-hundred day moving average is $46.71.

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

Institutional Investors Weigh In On Forward Air

Large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Forward Air by 15.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the transportation company’s stock valued at $299,000 after purchasing an additional 588 shares during the period. Strs Ohio boosted its holdings in shares of Forward Air by 1,700.0% in the third quarter. Strs Ohio now owns 12,600 shares of the transportation company’s stock worth $866,000 after acquiring an additional 11,900 shares during the period. Inspire Investing LLC grew its position in shares of Forward Air by 48.9% in the third quarter. Inspire Investing LLC now owns 4,478 shares of the transportation company’s stock valued at $308,000 after purchasing an additional 1,471 shares in the last quarter. Meritage Portfolio Management raised its stake in shares of Forward Air by 48.0% during the 3rd quarter. Meritage Portfolio Management now owns 5,446 shares of the transportation company’s stock valued at $374,000 after purchasing an additional 1,767 shares during the period. Finally, AlphaMark Advisors LLC purchased a new stake in Forward Air during the 3rd quarter worth about $154,000. 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.