Shares of Forward Air Co. (NASDAQ:FWRD – Get Free Report) have earned a consensus rating of “Buy” from the five research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $120.17.
Several equities analysts have recently commented on FWRD shares. StockNews.com started coverage on shares of Forward Air in a research report on Thursday, May 18th. They set a “hold” rating for the company. Susquehanna lowered their price target on shares of Forward Air from $138.00 to $125.00 in a research report on Wednesday, May 3rd. Stifel Nicolaus decreased their target price on shares of Forward Air from $123.00 to $116.00 in a research report on Wednesday, May 10th. Raymond James decreased their target price on shares of Forward Air from $128.00 to $115.00 in a research report on Wednesday, May 3rd. Finally, Robert W. Baird upgraded shares of Forward Air from a “neutral” rating to an “outperform” rating and increased their target price for the company from $106.00 to $130.00 in a research report on Wednesday, July 19th.
Hedge Funds Weigh In On Forward Air
Large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Forward Air by 0.9% during the first quarter. BlackRock Inc. now owns 4,118,552 shares of the transportation company’s stock valued at $402,713,000 after buying an additional 36,722 shares in the last quarter. Vanguard Group Inc. lifted its stake in Forward Air by 0.9% during the third quarter. Vanguard Group Inc. now owns 2,934,717 shares of the transportation company’s stock valued at $264,887,000 after buying an additional 25,141 shares in the last quarter. Ancora Advisors LLC lifted its stake in Forward Air by 18.2% during the first quarter. Ancora Advisors LLC now owns 1,753,799 shares of the transportation company’s stock valued at $155,754,000 after buying an additional 269,446 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in Forward Air by 10.4% during the first quarter. Neuberger Berman Group LLC now owns 1,518,110 shares of the transportation company’s stock valued at $163,592,000 after buying an additional 142,750 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its stake in Forward Air by 3.1% during the first quarter. ArrowMark Colorado Holdings LLC now owns 1,229,373 shares of the transportation company’s stock valued at $132,477,000 after buying an additional 36,829 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.
Forward Air Stock Down 1.6 %
Forward Air (NASDAQ:FWRD – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The transportation company reported $0.91 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.37). The firm had revenue of $402.18 million for the quarter, compared to the consensus estimate of $444.15 million. Forward Air had a return on equity of 22.82% and a net margin of 8.32%. The firm’s revenue was down 21.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.04 EPS. Equities analysts anticipate that Forward Air will post 5.68 EPS for the current year.
Forward Air Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 17th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. Forward Air’s dividend payout ratio (DPR) is 16.96%.
About Forward Air
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 final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.
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