Forward Air Co. (NASDAQ:FWRD) has been given an average rating of “Hold” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $70.00.
A number of equities research analysts recently commented on the company. Zacks Investment Research lowered Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, June 17th. BidaskClub upgraded Forward Air from a “sell” rating to a “hold” rating in a research report on Friday, June 7th. Finally, Deutsche Bank upped their target price on Forward Air from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, April 26th.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Forward Air by 0.7% in the fourth quarter. BlackRock Inc. now owns 4,227,126 shares of the transportation company’s stock valued at $231,857,000 after acquiring an additional 28,208 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Forward Air by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,296,860 shares of the transportation company’s stock valued at $71,133,000 after acquiring an additional 7,101 shares during the period. Victory Capital Management Inc. lifted its holdings in Forward Air by 15.0% in the first quarter. Victory Capital Management Inc. now owns 1,201,653 shares of the transportation company’s stock valued at $77,783,000 after acquiring an additional 157,120 shares during the period. Royce & Associates LP lifted its holdings in Forward Air by 0.6% in the first quarter. Royce & Associates LP now owns 935,779 shares of the transportation company’s stock valued at $60,573,000 after acquiring an additional 5,698 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in Forward Air by 42.6% in the first quarter. Clearbridge Investments LLC now owns 720,663 shares of the transportation company’s stock valued at $46,649,000 after acquiring an additional 215,206 shares during the period. 95.34% of the stock is owned by institutional investors.
Forward Air (NASDAQ:FWRD) last issued its earnings results on Wednesday, April 24th. The transportation company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. The firm had revenue of $321.47 million for the quarter, compared to analyst estimates of $324.22 million. Forward Air had a return on equity of 16.88% and a net margin of 6.92%. Forward Air’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. On average, equities analysts expect that Forward Air will post 3.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 1.26%. Forward Air’s dividend payout ratio is currently 23.08%.
About Forward Air
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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