Shares of Forward Air Co. (NASDAQ:FWRD – Get Rating) have received an average recommendation of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $136.86.
Several equities analysts have commented on the stock. Stifel Nicolaus upgraded shares of Forward Air from a “hold” rating to a “buy” rating and increased their price objective for the company from $122.00 to $136.00 in a research report on Thursday, April 28th. Susquehanna Bancshares lowered their price objective on shares of Forward Air from $143.00 to $133.00 in a research report on Friday, April 29th. Susquehanna lowered their price objective on shares of Forward Air from $143.00 to $133.00 in a research report on Friday, April 29th. Finally, StockNews.com upgraded shares of Forward Air from a “hold” rating to a “buy” rating in a research report on Monday, May 2nd.
Shares of NASDAQ:FWRD opened at $93.41 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a fifty day moving average price of $94.06 and a 200 day moving average price of $102.85. Forward Air has a fifty-two week low of $80.56 and a fifty-two week high of $125.71. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 18.61 and a beta of 1.15.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 14th. Stockholders of record on Thursday, May 26th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Wednesday, May 25th. Forward Air’s dividend payout ratio is currently 19.12%.
Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in Forward Air by 0.9% in the 1st quarter. BlackRock Inc. now owns 4,118,552 shares of the transportation company’s stock worth $402,713,000 after buying an additional 36,722 shares during the period. Vanguard Group Inc. increased its stake in Forward Air by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 2,918,292 shares of the transportation company’s stock worth $285,351,000 after buying an additional 28,680 shares during the period. Ancora Advisors LLC increased its stake in Forward Air by 1.5% in the 3rd quarter. Ancora Advisors LLC now owns 1,873,202 shares of the transportation company’s stock worth $155,513,000 after buying an additional 27,949 shares during the period. Silvercrest Asset Management Group LLC increased its stake in Forward Air by 31.7% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,277,549 shares of the transportation company’s stock worth $153,713,000 after buying an additional 307,392 shares during the period. Finally, State Street Corp increased its stake in Forward Air by 7.3% in the 1st quarter. State Street Corp now owns 1,056,548 shares of the transportation company’s stock worth $103,309,000 after buying an additional 72,215 shares during the period. 97.66% of the stock is currently owned by institutional investors and hedge funds.
About Forward Air (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Forward Air (FWRD)
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