The stock of Forward Air Corp. (NASDAQ: FWRD) has decreased by -2.92 when compared to last closing price of 24.00. Despite this, the company has experienced a 2.87% gain in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-12 that It’s a great time to be looking at transportation stocks to buy. Thanks to the reshoring boom, multinational companies are looking to relocate much of their supply chains and manufacturing capacity back to the United States and the North American free trade zone.
Is It Worth Investing in Forward Air Corp. (NASDAQ: FWRD) Right Now?
Forward Air Corp. (NASDAQ: FWRD) has a higher price-to-earnings ratio of 60.55x compared to its average ratio, The 36-month beta value for FWRD is at 1.04. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 1 rating it as “overweight,” 8 as “hold,” and 0 as “sell.”
The public float for FWRD is 23.76M, and currently, shorts hold a 15.59% of that float. The average trading volume for FWRD on April 25, 2024 was 980.58K shares.
FWRD’s Market Performance
FWRD’s stock has seen a 2.87% increase for the week, with a -19.54% drop in the past month and a -52.26% fall in the past quarter. The volatility ratio for the week is 4.22%, and the volatility levels for the past 30 days are at 5.44% for Forward Air Corp. The simple moving average for the last 20 days is -13.34% for FWRD stock, with a simple moving average of -62.32% for the last 200 days.
Analysts’ Opinion of FWRD
Jefferies, on the other hand, stated in their research note that they expect to see FWRD reach a price target of $85, previously predicting the price at $110. The rating they have provided for FWRD stocks is “Buy” according to the report published on August 29th, 2023.
FWRD Trading at -25.21% from the 50-Day Moving Average
After a stumble in the market that brought FWRD to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -80.80% of loss for the given period.
Volatility was left at 5.44%, however, over the last 30 days, the volatility rate increased by 4.22%, as shares sank -20.07% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -45.56% lower at present.
During the last 5 trading sessions, FWRD rose by +2.87%, which changed the moving average for the period of 200-days by -78.35% in comparison to the 20-day moving average, which settled at $26.59. In addition, Forward Air Corp. saw -62.94% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at FWRD starting from RUBLE CHRIS C, who purchase 1,433 shares at the price of $69.77 back on Aug 25 ’23. After this action, RUBLE CHRIS C now owns 28,276 shares of Forward Air Corp., valued at $99,992 using the latest closing price.
MITCHIN KYLE R, the Chief People Officer of Forward Air Corp., purchase 1,093 shares at $68.63 during a trade that took place back on Aug 25 ’23, which means that MITCHIN KYLE R is holding 18,896 shares at $75,013 based on the most recent closing price.
Stock Fundamentals for FWRD
Current profitability levels for the company are sitting at:
- 0.06 for the present operating margin
- 0.16 for the gross margin
The net margin for Forward Air Corp. stands at 0.01. The total capital return value is set at 0.04. Equity return is now at value 6.89, with 2.35 for asset returns.
Based on Forward Air Corp. (FWRD), the company’s capital structure generated 0.71 points at debt to capital in total, while cash flow to debt ratio is standing at 0.1. The debt to equity ratio resting at 2.42. The interest coverage ratio of the stock is 3.78.
Currently, EBITDA for the company is 145.62 million with net debt to EBITDA at 11.5. When we switch over and look at the enterprise to sales, we see a ratio of 1.51. The receivables turnover for the company is 9.96for trailing twelve months and the total asset turnover is 0.52. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.46.
Conclusion
In conclusion, Forward Air Corp. (FWRD) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
