Forward Air Corporation (FWRD) is Upgraded by RBC Capital Mkts to Outperform, Raises Price Target to $ 52

Forward Air Corporation (FWRD) was Upgraded by RBC Capital Mkts to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 52 from a previous price target of $50 . Earlier the firm had a rating of “Sector Perform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on May 24, 2016.

Many Wall Street Analysts have commented on Forward Air Corporation. Company shares were Reiterated by RBC Capital Mkts on Apr 25, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 50 from a previous price target of $43 .Company shares were Reiterated by Cowen on Apr 22, 2016 to “Market Perform”, Firm has raised the Price Target to $ 47 from a previous price target of $42 .

On the company’s financial health, Forward Air Corporation reported $0.43 EPS for the quarter, based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus estimate of $0.43. The company had revenue of $229.50 million for the quarter, compared to analysts expectations of $228.71 million. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Forward Air Corporation opened for trading at $42.97 and hit $43.72 on the upside on Friday, eventually ending the session at $43.58, with a gain of 2.06% or 0.88 points. The heightened volatility saw the trading volume jump to 1,03,829 shares. Company has a market cap of $1,326,967 M.

Investors should note that on Apr 29, 2016, Forward Air Corporation announced a cash dividend of $0.1200. The company’s management has announced May 26, 2016 as the ex-dividend date and fixed the record date on May 31, 2016. The payable date has been fixed on Jun 13, 2016.

In a different news, on Nov 20, 2015, Michael P Mclean (VP & CAO) sold 9,000 shares at $48.00 per share price. According to the SEC, on Nov 9, 2015, Bruce A Campbell (Chairman, President & CEO) sold 91,256 shares at $46.01 per share price. On Jun 16, 2015, Michael L Hance (Senior VP, CLO and Secretary) sold 9,000 shares at $54.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Forward Air Corporation is a provider of time-definite surface transportation and related logistics services to the North American air freight and expedited LTL market. The Company operates in three segments: Forward Air (Forward Air) Forward Air Solutions (FASI) and Total Quality (TQI). It also offers its customers an array of logistics and other services including expedited full truckload (TLX); dedicated fleets; warehousing; customs brokerage; and shipment consolidation deconsolidation and handling. It has a network of freight terminals located on or near airports in 87 the United States and Canadian cities including its central sorting facility in Columbus Ohio and 11 regional sort centers. Its customers include wholesale transportation community freight forwarders customs brokers and airlines. Its brands include Forward Air Inc. Roadfeeder Network Forward Air Forward Air Solutions Forward Air TLXSM Forward Air Complete PROUD and Total Quality Inc.

Forward Air Corporation

Leave a Reply

Forward Air Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on Forward Air Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.