Stifel slashes price target on Forward Air Corporation [FWRD] – find out why.

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Forward Air Corporation [NASDAQ: FWRD] traded at a low on 06/17/22, posting a -1.83 loss after which it closed the day’ session at $85.53. The company report on June 8, 2022 that Forward Air Provides Mid-Quarter Update on Second Quarter 2022 Performance.


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Forward Air Corporation (NASDAQ: FWRD) (the “Company,” “Forward,” “we,” “our,” or “us”), today provided the following key Expedited Freight Operating Statistics for the quarter-to-date period through May 2022. Revenue per shipment increased 40.7%, weight per shipment increased 15.4% and pounds per day increased 0.4% over the same period last year.

Tom Schmitt, Chairman, President, and Chief Executive Officer of Forward, commented, “We remain focused on the selection of higher-quality freight in our network. Second quarter of the prior year was the peak period for unpalletized, loose freight. We cleansed our network of inefficient freight to ensure that we keep our commitment to customers for their most sensitive freight, to the point where we now have the same tonnage as last year at much higher-quality levels. We continue to add higher-quality tonnage, which, .based on our performance through May, gives me the confidence that we will exceed the top end of our Q2 net income per diluted share guidance of $1.59 to $1.63.”.

The results of the trading session contributed to over 290090 shares changing hands. Over the past one week, the price volatility of Forward Air Corporation stands at 4.44% while the volatility over the past one month is 3.66%.

The market cap for FWRD stock reached $2.34 billion, with 26.95 million shares outstanding and 26.65 million shares in the current float. Compared to the average trading volume of 192.43K shares, FWRD reached a trading volume of 290090 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Forward Air Corporation [FWRD]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FWRD shares is $135.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FWRD stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for Forward Air Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 29, 2022. The new note on the price target was released on January 06, 2022, representing the official price target for Forward Air Corporation stock. Previously, the target price had yet another raise from $110 to $125, while Robert W. Baird kept a Neutral rating on FWRD stock. On January 04, 2022, analysts increased their price target for FWRD shares from 115 to 165.

The Average True Range (ATR) for Forward Air Corporation is set at 3.79, with the Price to Sales ratio for FWRD stock in the period of the last 12 months amounting to 1.32. The Price to Book ratio for the last quarter was 3.77, with the Price to Cash per share for the same quarter was set at 2.25.

How has FWRD stock performed recently?

Forward Air Corporation [FWRD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.62. With this latest performance, FWRD shares dropped by -4.63% in over the last four-week period, additionally sinking by -24.91% over the last 6 months – not to mention a drop of -2.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FWRD stock in for the last two-week period is set at 33.07, with the RSI for the last a single of trading hit 25.32, and the three-weeks RSI is set at 37.58 for Forward Air Corporation [FWRD]. The present Moving Average for the last 50 days of trading for this stock 93.47, while it was recorded at 88.84 for the last single week of trading, and 99.12 for the last 200 days.

Forward Air Corporation [FWRD]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Forward Air Corporation [FWRD] shares currently have an operating margin of +9.58 and a Gross Margin at +9.58. Forward Air Corporation’s Net Margin is presently recorded at +6.93.

Return on Equity for this stock inclined to 20.21, with Return on Assets sitting at 10.15.

Forward Air Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.

Earnings analysis for Forward Air Corporation [FWRD]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FWRD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Forward Air Corporation go to 13.16%.

Insider trade positions for Forward Air Corporation [FWRD]

There are presently around $2,247 million, in the hands of institutional investors. The top three institutional holders of FWRD stocks are: BLACKROCK INC. with ownership of 4,118,552, which is approximately 0.9% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 2,918,292 shares of the stock with an approximate value of $249.6 million in FWRD stocks shares; and ANCORA ADVISORS, LLC, currently with $115.13 million in FWRD stock with ownership of nearly -9.315% of the company’s market capitalization.

Positions in Forward Air Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 117 institutional holders increased their position in Forward Air Corporation [NASDAQ:FWRD] by around 1,103,622 shares. Additionally, 125 investors decreased positions by around 1,302,926 shares, while 29 investors held positions by with 23,865,167 shares. The mentioned changes placed institutional holdings at 26,271,715 shares, according to the latest SEC report filing. FWRD stock had 31 new institutional investments in for a total of 313,634 shares, while 25 institutional investors sold positions of 170,127 shares during the same period.

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