Forward Air (NASDAQ:FWRD) PT Raised to $17.00 at Robert W. Baird

Forward Air (NASDAQ:FWRD) had its price objective increased by Robert W. Baird from $14.00 to $17.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Robert W. Baird’s price objective indicates a potential downside of 12.60% from the stock’s current price.

Several other analysts also recently commented on the stock. Benchmark restated a “hold” rating on shares of Forward Air in a report on Wednesday, April 24th. StockNews.com downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a report on Monday, March 18th. Finally, Wolfe Research upgraded shares of Forward Air from an “underperform” rating to a “peer perform” rating in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Forward Air currently has a consensus rating of “Hold” and an average target price of $76.86.

Forward Air Stock Performance

Shares of FWRD stock opened at $19.45 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $514.26 million, a P/E ratio of 5.69 and a beta of 1.00. The company’s 50 day moving average price is $18.36 and its two-hundred day moving average price is $33.33. Forward Air has a 52 week low of $11.21 and a 52 week high of $121.38.

Forward Air (NASDAQ:FWRD) last announced its earnings results on Wednesday, May 8th. The transportation company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.49). The company had revenue of $541.81 million for the quarter, compared to analyst estimates of $644.00 million. Forward Air had a return on equity of 5.37% and a net margin of 4.08%. During the same quarter last year, the business posted $1.37 earnings per share. On average, analysts expect that Forward Air will post -0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Forward Air

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Forward Air by 2,329.3% during the second quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock worth $38,000 after buying an additional 1,910 shares during the last quarter. Sona Asset Management US LLC acquired a new position in Forward Air during the first quarter worth $2,178,000. Tidal Investments LLC increased its holdings in Forward Air by 103.9% during the first quarter. Tidal Investments LLC now owns 21,347 shares of the transportation company’s stock worth $664,000 after buying an additional 10,877 shares during the last quarter. Caxton Associates LP acquired a new position in Forward Air during the first quarter worth $236,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Forward Air by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,604 shares of the transportation company’s stock worth $641,000 after buying an additional 5,427 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.