Forward Air Corp. (NASDAQ:FWRD) At $41.43: What To Do?

In last trading session, Forward Air Corp. (NASDAQ:FWRD) saw 0.67 million shares changing hands with its beta currently measuring 1.04. Company’s recent per share price level of $41.43 trading at -$1.19 or -2.79% at ring of the bell on the day assigns it a market valuation of $1.06B. That closing price of FWRD’s stock is at a discount of -192.98% from its 52-week high price of $121.38 and is indicating a discount of -1.21% from its 52-week low price of $41.93. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.6 million shares which gives us an average trading volume of 499.11K if we extend that period to 3-months.

Forward Air Corp. (NASDAQ:FWRD) trade information

Upright in the red during last session for losing -2.79%, in the last five days FWRD remained trading in the red while hitting it’s week-highest on Wednesday, 02/07/24 when the stock touched $41.43 price level, adding 7.32% to its value on the day. Forward Air Corp.’s shares saw a change of -34.10% in year-to-date performance and have moved -5.17% in past 5-day. Forward Air Corp. (NASDAQ:FWRD) showed a performance of -28.35% in past 30-days. Number of shares sold short was 0.91 million shares which calculate 2.11 days to cover the short interests.

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Forward Air Corp. (FWRD) estimates and forecasts

Statistics highlight that Forward Air Corp. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -60.17% of value to its shares in past 6 months, showing an annual growth rate of -40.81% while that of industry is 4.80. Apart from that, the company came lowering its revenue forecast for fiscal year 2024.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 19.82% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -41.17% while estimates for its earnings growth in next 5 years are of 13.16%.

FWRD Dividends

Forward Air Corp. is more likely to be releasing its next quarterly report on February 21 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Forward Air Corp. (NASDAQ:FWRD)’s Major holders

Insiders are in possession of 0.99% of company’s total shares while institution are holding 85.50 percent of that, with stock having share float percentage of 86.36%. Investors also watch the number of corporate investors in a company very closely, which is 85.50% institutions for Forward Air Corp. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at FWRD for having 4.01 million shares of worth $425.26 million. And as of Jun 29, 2023, it was holding 15.60% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group Inc, which was holding about 2.95 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 11.49% of outstanding shares, having a total worth of $313.32 million.

On the other hand, iShares Core S&P Smallcap ETF and Neuberger & Berman Genesis Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2023, the former fund manager was holding 1.73 million shares of worth $119.26 million or 6.75% of the total outstanding shares. The later fund manager was in possession of 0.97 million shares on Jun 29, 2023, making its stake of worth around $103.03 million in the company or a holder of 3.78% of company’s stock.

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