Forward Air (FWRD) – Investment Analysts’ Weekly Ratings Updates

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A number of firms have modified their ratings and price targets on shares of Forward Air (NASDAQ: FWRD) recently:

  • 6/10/2019 – Forward Air was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 6/7/2019 – Forward Air was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 5/30/2019 – Forward Air was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 5/24/2019 – Forward Air was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 5/23/2019 – Forward Air was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 5/17/2019 – Forward Air was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 4/30/2019 – Forward Air was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Forward Air Corporation is a leading provider of ground transportation and related logistics services to the North American air freight and expedited LTL market. Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Brokerage (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). “
  • 4/26/2019 – Forward Air had its price target raised by analysts at Deutsche Bank AG from $73.00 to $75.00. They now have a “buy” rating on the stock.
  • 4/24/2019 – Forward Air was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 4/13/2019 – Forward Air was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of NASDAQ FWRD traded up $0.86 during mid-day trading on Wednesday, hitting $59.38. 4,880 shares of the stock traded hands, compared to its average volume of 158,768. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.09. Forward Air Co. has a twelve month low of $51.54 and a twelve month high of $72.81. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 19.03 and a beta of 1.59.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. Forward Air had a return on equity of 16.88% and a net margin of 6.92%. The company had revenue of $321.47 million for the quarter, compared to the consensus estimate of $324.22 million. During the same quarter last year, the business posted $0.60 EPS. Forward Air’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, research analysts anticipate that Forward Air Co. will post 3.27 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.21%. The ex-dividend date was Thursday, May 23rd. Forward Air’s payout ratio is presently 23.08%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Forward Air by 0.7% during the 4th quarter. BlackRock Inc. now owns 4,227,126 shares of the transportation company’s stock worth $231,857,000 after buying an additional 28,208 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Forward Air by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,301,207 shares of the transportation company’s stock worth $84,227,000 after acquiring an additional 4,347 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Forward Air by 15.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,201,653 shares of the transportation company’s stock worth $77,783,000 after acquiring an additional 157,120 shares in the last quarter. Royce & Associates LP raised its position in shares of Forward Air by 0.6% in the 1st quarter. Royce & Associates LP now owns 935,779 shares of the transportation company’s stock worth $60,573,000 after acquiring an additional 5,698 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Forward Air by 42.6% in the 1st quarter. Clearbridge Investments LLC now owns 720,663 shares of the transportation company’s stock worth $46,649,000 after acquiring an additional 215,206 shares in the last quarter. 95.39% of the stock is currently owned by hedge funds and other institutional investors.

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-Than-Truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).

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