Forward Air’s (FWRD) “Maintains” Rating Reaffirmed at Raymond James

Raymond James reissued their maintains rating on shares of Forward Air (NASDAQ:FWRDGet Rating) in a research report report published on Friday, Benzinga reports.

A number of other analysts also recently issued reports on the stock. Stifel Nicolaus upgraded shares of Forward Air from a hold rating to a buy rating and raised their price objective for the stock from $122.00 to $136.00 in a report on Thursday, April 28th. StockNews.com upgraded shares of Forward Air from a hold rating to a buy rating in a report on Monday, May 2nd. Susquehanna Bancshares decreased their price objective on shares of Forward Air from $143.00 to $133.00 in a report on Friday, April 29th. Susquehanna decreased their price objective on shares of Forward Air from $143.00 to $133.00 in a report on Friday, April 29th. Finally, Benchmark assumed coverage on shares of Forward Air in a report on Tuesday, July 19th. They set a hold rating for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $137.83.

Forward Air Stock Performance

Shares of FWRD stock opened at $105.15 on Friday. The firm has a 50-day moving average of $92.81 and a 200-day moving average of $97.05. The company has a market cap of $2.82 billion, a P/E ratio of 17.67 and a beta of 1.13. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.89 and a quick ratio of 1.73. Forward Air has a one year low of $80.56 and a one year high of $125.71.

Forward Air (NASDAQ:FWRDGet Rating) last announced its earnings results on Wednesday, July 27th. The transportation company reported $2.04 EPS for the quarter, beating the consensus estimate of $2.02 by $0.02. The company had revenue of $515.22 million during the quarter, compared to the consensus estimate of $515.72 million. Forward Air had a net margin of 8.71% and a return on equity of 27.62%. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.11 earnings per share. Equities research analysts forecast that Forward Air will post 6.78 EPS for the current fiscal year.

Forward Air Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, August 17th. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Forward Air’s dividend payout ratio is presently 16.13%.

Hedge Funds Weigh In On Forward Air

Large investors have recently modified their holdings of the company. Miller Howard Investments Inc. NY boosted its position in shares of Forward Air by 6.1% in the first quarter. Miller Howard Investments Inc. NY now owns 28,909 shares of the transportation company’s stock valued at $2,827,000 after acquiring an additional 1,669 shares during the period. Boston Trust Walden Corp boosted its position in shares of Forward Air by 2.1% in the first quarter. Boston Trust Walden Corp now owns 255,758 shares of the transportation company’s stock valued at $25,008,000 after acquiring an additional 5,261 shares during the period. Hanseatic Management Services Inc. bought a new position in shares of Forward Air in the first quarter valued at approximately $536,000. Fractal Investments LLC bought a new position in shares of Forward Air in the fourth quarter valued at approximately $363,000. Finally, JB Capital LLC boosted its position in shares of Forward Air by 35.1% in the fourth quarter. JB Capital LLC now owns 5,069 shares of the transportation company’s stock valued at $614,000 after acquiring an additional 1,318 shares during the period. 97.66% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Forward Air (NASDAQ:FWRD)

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