Forward Air (NASDAQ:FWRD) Stock Price Up 4.1%

Forward Air Co. (NASDAQ:FWRD - Get Free Report)'s stock price traded up 4.1% on Thursday . The stock traded as high as $31.88 and last traded at $31.87. 139,280 shares were traded during trading, a decline of 87% from the average session volume of 1,070,456 shares. The stock had previously closed at $30.61.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Benchmark restated a "hold" rating on shares of Forward Air in a research report on Monday, August 12th. Wolfe Research raised Forward Air from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, May 28th. Finally, Robert W. Baird increased their price target on shares of Forward Air from $17.00 to $24.00 and gave the company a "neutral" rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $57.80.

Forward Air Price Performance

The company has a fifty day simple moving average of $23.14 and a 200 day simple moving average of $25.48. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $826.98 million, a price-to-earnings ratio of 9.32 and a beta of 1.00.

Forward Air (NASDAQ:FWRD - Get Free Report) last issued its earnings results on Wednesday, August 7th. The transportation company reported ($23.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($23.11). The firm had revenue of $643.67 million during the quarter, compared to the consensus estimate of $642.92 million. Forward Air had a return on equity of 5.37% and a net margin of 4.08%. Forward Air's revenue for the quarter was up 92.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. Equities research analysts forecast that Forward Air Co. will post -0.46 EPS for the current fiscal year.

Institutional Trading of Forward Air

Several hedge funds and other institutional investors have recently bought and sold shares of FWRD. Point72 Asset Management L.P. raised its position in shares of Forward Air by 11,740.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 372,500 shares of the transportation company's stock worth $7,092,000 after acquiring an additional 375,700 shares in the last quarter. Luxor Capital Group LP bought a new stake in Forward Air in the 2nd quarter worth about $1,394,000. Deerfield Management Company L.P. Series C bought a new stake in shares of Forward Air in the second quarter worth approximately $242,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Forward Air during the 2nd quarter valued at $181,000. Finally, Squarepoint Ops LLC increased its position in shares of Forward Air by 305.8% during the 2nd quarter. Squarepoint Ops LLC now owns 165,488 shares of the transportation company's stock valued at $3,151,000 after purchasing an additional 124,704 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Forward Air Company Profile

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 shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.