Forward Air Corporation (FWRD) is Reiterated by Cowen to Outperform, Raises Price Target to $ 50

Forward Air Corporation (FWRD) was Reiterated by Cowen to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 50 from a previous price target of $47 . Cowen advised their investors in a research report released on Jul 25, 2016.

Many Wall Street Analysts have commented on Forward Air Corporation. Company shares were Reiterated by Cowen on Jul 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 50 from a previous price target of $47 .Forward Air Corporation was Downgraded by BB&T Capital Mkts to ” Hold” on Jul 12, 2016. Company shares were Upgraded by RBC Capital Mkts on May 24, 2016 to ” Outperform”, Firm has raised the Price Target to $ 52 from a previous price target of $50 .

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 $44.82 and hit $45.04 on the upside on Wednesday, eventually ending the session at $44.77, with a gain of 0.49% or 0.22 points. The heightened volatility saw the trading volume jump to 2,10,620 shares. Company has a market cap of $1,363 M.

In a different news, on Jun 7, 2016, George M Lynch (director) sold 2,739 shares at $45.00 per share price. According to the SEC, on Nov 20, 2015, Michael P Mclean (VP & CAO) sold 9,000 shares at $48.00 per share price. On Nov 9, 2015, Bruce A Campbell (Chairman, President & CEO) sold 91,256 shares at $46.01 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

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