BB&T Capital Downgrades Forward Air Corporation to Hold

Brokerage firm BB&T Capital Downgrades its rating on Forward Air Corporation(NASDAQ:FWRD). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by BB&T Capital was issued on Jul 12, 2016.

In a different note, On May 24, 2016, RBC Capital said it Upgrades its rating on Forward Air Corporation. The shares have been rated ‘Outperform’ by the firm.

Forward Air Corporation (FWRD) shares turned negative on Fridays trading session with the shares closing down -0.35 points or -0.77% at a volume of 2,05,910. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $45.84. The peak price level was also seen at $45.84 while the days lowest was $45.14. Finally the shares closed at $45.15. The 52-week high of the shares is $53.03 while the 52-week low is $36. According to the latest information available, the market cap of the company is $1,375 M.

Forward Air Corporation(FWRD) last announced its earnings results on Apr 21, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $229.55M. Analysts had an estimated revenue of $228.13M. Earnings per share were $0.43. Analysts had estimated an EPS of $0.43.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, George M Lynch (director) sold 2,739 shares at $45.00 per share price.Also, 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.

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