FWRD

Forward Air Corp

17.62

Oct 30 • 3:59 PM ET -0.25 (-1.40%)

17.62

Aftermarket • 7:30 PM ET 0.00 (0.00%)

Industrials Integrated Freight & Logistics USA Small NASD

Peers: RLGT EXPD CHRW HUBG FDXF ARCB XPO ODFL SAIA TFII

| Held by: VTI IWM VXF FNDA IWO SCHA VTWO PRFZ JSML IYT

Scroll to Statements

Index	RUT
Market Cap	595.22M
Enterprise Value	2.56B
Income	-286.19M
Sales	2.52B
Book/sh	-3.42
Cash/sh	4.13
Dividend Est.	-
Dividend TTM	-
Dividend Ex-Date	Nov 21, 2023
Dividend Gr. 3/5Y	- -
Payout	-
Employees	6062
IPO	Nov 16, 1993

P/E	-
Forward P/E	87.23
PEG	-
P/S	0.24
P/B	-
P/C	4.27
P/FCF	12.34
EV/EBITDA	11.10
EV/Sales	1.02
Quick Ratio	1.32
Current Ratio	1.32
Debt/Eq	-
LT Debt/Eq	-
Option/Short	Yes / Yes

EPS (ttm)	-8.90
EPS next Y	0.20
EPS next Q	0.13
EPS this Y	61.60%
EPS next Y	125.06%
EPS next 5Y	-
EPS past 3/5Y	- -
Sales past 3/5Y	14.10% 14.47%
EPS Y/Y TTM	-49.73%
Sales Y/Y TTM	-0.11%
EPS Q/Q	-1443.46%
Sales Q/Q	8.76%
Earnings	Nov 09 AMC
EPS/Sales Surpr.	1147.65% 6.10%

Insider Own	14.73%
Insider Trans	0.00%
Inst Own	79.35%
Inst Trans	-0.29%
ROA	-11.00%
ROE	-1564.53%
ROIC	-15.29%
Gross Margin	2.99%
Oper. Margin	2.99%
Profit Margin	-11.37%
SMA20	11.53%
SMA50	9.90%
SMA200	-0.17%
Trades

Shs Outstand	33.74M
Shs Float	28.81M
Short Float	6.26%
Short Ratio	3.58
Short Interest	1.80M
52W High	31.17 -43.48%
52W Low	7.86 124.32%
Volatility	6.17% 5.09%
ATR (14)	0.90
RSI (14)	64.20
Beta	1.34
Rel Volume	0.88
Avg Volume	503.31K
Volume	441,765

Perf Week	15.16%
Perf Month	13.68%
Perf Quarter	20.11%
Perf Half Y	-17.39%
Perf YTD	-29.52%
Perf Year	-5.62%
Perf 3Y	-75.18%
Perf 5Y	-82.48%
Perf 10Y	-56.58%
Recom	2.20
Target Price	26.00
Prev Close	17.87
Price	17.62
Change %	-1.40%

Consensus

Buy

Avg. Price Target

$26.00

Implied Upside

+47.6%

Analysts8incl. previous ratings

Rating Distribution4 Buy · 4 Hold · 0 Sell

Date	Action	Analyst	Rating Change	Price Target Change	Implied Upside
Jun 26, 2025	Upgrade	SStifel	Hold → Buy	$29	+64.6%
May 28, 2024	Upgrade	WWolfe Research	Underperform → Peer Perform
Jan 10, 2024	Downgrade	WWolfe Research	Peer Perform → Underperform
Aug 29, 2023	Upgrade	JJefferies	Hold → Buy	$110 → $85	+382.4%
Aug 28, 2023	Upgrade	WWolfe Research	Underperform → Peer Perform
Aug 15, 2023	Downgrade	RRobert W. Baird	Outperform → Neutral	$130 → $80	+354.0%
Aug 11, 2023	Downgrade	WWolfe Research	Peer Perform → Underperform	$80	+354.0%
Aug 11, 2023	Downgrade	SStifel	Buy → Hold	$127 → $103	+484.6%
Aug 11, 2023	Downgrade	RRaymond James	Strong Buy → Mkt Perform
Jul 19, 2023	Upgrade	RRobert W. Baird	Neutral → Outperform	$106 → $130	+637.8%
Jan 04, 2023	Downgrade	JJefferies	Buy → Hold	$110	+524.3%
Oct 25, 2022	Initiated	JJefferies	Buy	$120	+581.0%
Jul 20, 2022	Initiated	TThe Benchmark Company	Hold
Apr 29, 2022	Upgrade	SStifel	Hold → Buy	$122 → $136	+671.9%
Jan 06, 2022	Downgrade	WWolfe Research	Outperform → Peer Perform
Jan 05, 2022	Downgrade	RRobert W. Baird	Outperform → Neutral	$110 → $125	+609.4%
Jan 04, 2022	Upgrade	SStephens	Equal-Weight → Overweight	$115 → $165	+836.4%
Dec 09, 2021	Initiated	SSusquehanna	Positive	$132	+649.1%
May 03, 2021	Upgrade	RRaymond James	Outperform → Strong Buy	$100 → $120	+581.0%
Feb 16, 2021	Upgrade	WWolfe Research	Peer Perform → Outperform	$101	+473.2%

Oct-28-26 09:29AM	Forward Air saves significant portion of major customer account (FreightWaves) +15.85%
07:30AM	Forward Air Announces Two-Year Definitive Agreement to Retain Significant Portion of Previously Disclosed Customer Relationship (Business Wire)
Oct-15-26 04:05PM	Forward Air Corporation Announces Timing of Third Quarter 2026 Earnings Release and Conference Call (Business Wire) -5.05%
Oct-01-26 01:30PM	Forward's 5th Annual Drive for Hope Golf Tournament Raises Record-Breaking $700,000 for Hope For The Warriors (Business Wire)
Aug-06-26 01:06AM	Forward Air Corp (FWRD) (Q2 2026) Earnings Call Highlights: Record Revenue and Strategic Wins ... (GuruFocus.com) +15.51%
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Aug-05-26 07:33PM	Forward Air: Q2 Earnings Snapshot (Associated Press)
06:34PM	Forward Air takes step in right direction in Q2 (FreightWaves)
04:01PM	Forward Air Corporation Reports Second Quarter 2026 Results (Business Wire)
02:59PM	Forward Air sells 2 business units, posts $201M operating loss (Trucking Dive)
Aug-04-26 09:45AM	Earnings To Watch: Forward Air Corp (FWRD) Q2 2026 -- GF Value Sees 126% Upside (GuruFocus.com)
Jul-22-26 06:41AM	Forward Air deal retains at least half of $250M major client account (Trucking Dive)
Jul-21-26 09:51AM	Forward Air secures deal to keep at least 50% of $250M account (FreightWaves) +22.80%
07:30AM	Forward Air Corporation Provides Customer Update (Business Wire)
Jul-15-26 04:05PM	Forward Air Corporation Announces Timing of Second Quarter 2026 Earnings Release and Conference Call (Business Wire) +7.37%
Jun-05-26 07:25PM	Marvell Technology and Flex Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600 (PR Newswire) +11.00%
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May-08-26 08:00AM	Robbins Geller Rudman & Dowd LLP, Grant & Eisenhofer P.A., and Collins Shelton Blair & Wright PLLC Announce Proposed Settlement in the Forward Air Stockholder Litigation (Business Wire) -43.05%
May-07-26 04:01PM	Forward Air Corporation Reports First Quarter 2026 Results (Business Wire) -5.61%
May-06-26 09:29AM	What To Expect From Forward Air Corp (FWRD) Q1 2026 Earnings (GuruFocus.com) +7.81%
Apr-30-26 08:30AM	Forward Air Awarded on USA TODAYs Americas Climate Leaders 2026 List (Business Wire)
Apr-28-26 04:05PM	Forward Air Corporation Announces Timing of First Quarter 2026 Earnings Release and Conference Call (Business Wire)
Apr-02-26 08:30AM	Forward Air Named to Newsweek's List of Most Trustworthy Companies in America 2026 (Business Wire)
Mar-29-26 07:49AM	Forward Air After the Merger: Dislocation or Structural Impairment? (GuruFocus.com)
Mar-24-26 08:30AM	Forward Air and Omni Logistics Leaders Recognized as 2026 Pros to Know by Supply & Demand Chain Executive (Business Wire)
Mar-11-26 10:04AM	Forward Air sale unlikely as strategic review nears close - sources (Investing.com) -16.56%
Mar-02-26 10:23AM	Forward Air Corporation (FWRD) Seen as Attractive Value at 8.5x 2026 EBITDA, Says Susquehanna (Insider Monkey)
Feb-24-26 01:00PM	Forward Air Named 2026 Surface Carrier of the Year by the Airforwarders Association (Business Wire)
12:01AM	Forward Air Corp (FWRD) Q4 2025 Earnings Call Highlights: Resilient Performance Amid Economic ... (GuruFocus.com)
Feb-23-26 06:18PM	Forward Air Q4 Earnings Call Highlights (MarketBeat) -9.13%
06:15PM	Forward Air (FWRD) Reports Q4 Loss, Beats Revenue Estimates (Zacks)
04:01PM	Forward Air Corporation Reports Fourth Quarter and Full Year 2025 Results (Business Wire)
07:19AM	Loading…
Feb-20-26 07:19AM	Forward Air Corp (FWRD) Q4 2025 Earnings Report Preview: What To Look For (GuruFocus.com)
Feb-10-26 08:40AM	Saia (SAIA) Q4 Earnings Miss Estimates (Zacks)
Feb-09-26 06:40PM	RXO Stock Sees Relative Strength Rating Improve To 74 (Investor's Business Daily)
Feb-05-26 05:20PM	Werner Enterprises (WERN) Misses Q4 Earnings and Revenue Estimates (Zacks) -5.34% +6.14%
Jan-29-26 04:05PM	Forward Air Corporation Announces Timing of Fourth Quarter 2025 and Full Year 2025 Earnings Release and Conference Call (Business Wire)
Jan-27-26 05:15PM	Marten Transport, Ltd. (MRTN) Q4 Earnings and Revenues Surpass Estimates (Zacks)
Jan-12-26 07:00AM	Activist investor Ancora carves out niche in transportation sector (FreightWaves)
Jan-06-26 04:01PM	Forward Air Corporation Highlights Comprehensive Stakeholder Initiatives in 2025 Sustainability Report (Business Wire)
Dec-03-25 05:40PM	5 Transport Stocks Are Spiking After Slumps. Analysts Debate Their Future. (Investor's Business Daily)
Nov-08-25 12:01PM	Forward Air Corp (FWRD) Q3 2025 Earnings Call Highlights: Strategic Progress Amid Market Challenges (GuruFocus.com)
Nov-07-25 03:44PM	Forward Air Q3 Revenue Slips as Overhaul Continues (Transport Topics)
Nov-06-25 05:55AM	Forward Air operating income drops nearly 34% in Q3 (Trucking Dive) +18.15%
05:30AM	New Strong Sell Stocks for Nov. 6 (Zacks)
Nov-05-25 06:50PM	Forward Air says strategic review, potential sale still on track (FreightWaves)
05:20PM	Forward Air (FWRD) Reports Q3 Loss, Lags Revenue Estimates (Zacks)
04:24PM	Forward Air: Q3 Earnings Snapshot (Associated Press Finance)
04:01PM	Forward Air Corporation Reports Third Quarter 2025 Results (Business Wire)
Nov-04-25 08:22AM	Forward Air Corp (FWRD) Q3 2025 Earnings Report Preview: What To Expect (GuruFocus.com)
Oct-30-25 07:55AM	XPO (XPO) Beats Q3 Earnings and Revenue Estimates (Zacks)
Oct-29-25 11:00AM	Transflo names Jay Tomasello as CTO to advance AI, digital strategy (FreightWaves)
10:00AM	Will Forward Air (FWRD) Report Negative Earnings Next Week? What You Should Know (Zacks)
Oct-20-25 06:01PM	No deal for Forward Air sends shares lower (FreightWaves) +6.72%
Oct-17-25 05:29AM	Forward Air CIO resigns (Trucking Dive)
Oct-16-25 04:05PM	Forward Air Corporation Announces Timing of Third Quarter 2025 Earnings Release and Conference Call (Business Wire)
Oct-15-25 05:15PM	JB Hunt (JBHT) Beats Q3 Earnings and Revenue Estimates (Zacks) -5.66%
Oct-06-25 01:00PM	Forward Air Raises $526,000 for Veterans at 2025 Drive for Hope Golf Tournament (Business Wire)
Sep-04-25 03:45PM	Fashion retailers partner to offer personalized AI styling tool Ella (TechCrunch)
Aug-20-25 04:05PM	Omni Logistics Delivers Speed, Accuracy, and Cost Control for High-Volume Auto Replenishment (Business Wire)
Aug-18-25 01:11PM	Second round of Forward Air takeover bids expected in September, report says (FreightWaves)
Aug-14-25 06:23AM	Forward Air makes progress on review of companys future (Trucking Dive) +5.17%
Aug-11-25 07:30PM	Forward Air (FWRD) Reports Q2 Earnings: What Key Metrics Have to Say (Zacks) -5.55%
06:55PM	Forward Air (FWRD) Reports Q2 Loss, Misses Revenue Estimates (Zacks)
06:41PM	Forward Air misses Q2 mark; investors waiting to see if company will be sold (FreightWaves)
06:06PM	Forward Air: Q2 Earnings Snapshot (Associated Press Finance)
04:01PM	Forward Air Corporation Reports Second Quarter 2025 Results (Business Wire)
Aug-08-25 09:23AM	Forward Air Corp (FWRD) Q2 2025 Earnings Report Preview: What to Expect (GuruFocus.com)
Aug-07-25 09:15AM	Unlocking Q2 Potential of Forward Air (FWRD): Exploring Wall Street Estimates for Key Metrics (Zacks)
Jul-31-25 10:40AM	Activist investor to reap handsome return in Union Pacific Norfolk Southern merger (FreightWaves)
07:55AM	XPO (XPO) Q2 Earnings and Revenues Top Estimates (Zacks)
Jul-30-25 04:05PM	Forward Air and Omni Logistics Combine Service Offerings to Deliver Value for Global Athletics Leader (Business Wire)
07:15AM	ArcBest (ARCB) Q2 Earnings and Revenues Lag Estimates (Zacks)
Jul-29-25 05:30PM	Landstar System (LSTR) Beats Q2 Earnings and Revenue Estimates (Zacks)
Jul-25-25 07:00AM	Forward Air Reportedly at Center of Private Equity Bidding War (Sourcing Journal)
Jul-24-25 04:05PM	Forward Air Announces Expanded Partnership With Leader in Package Delivery Services (Business Wire)
04:01AM	Forward Air (FWRD) Soars 9.5%: Is Further Upside Left in the Stock? (Zacks)
Jul-23-25 03:50PM	Private equity bids for Forward Air rolling in, report says (FreightWaves) +9.53%
Jul-22-25 07:32AM	Forward Air reveals new chairmans salary, performance-based stock (Trucking Dive)
Jul-17-25 04:05PM	Forward Air Corporation Announces Timing of Second Quarter 2025 Earnings Release and Conference Call (Business Wire)
Jul-09-25 10:00AM	Merger-Arbitrage Investors With Billions to Wager Await Next Wave of Mega-Deals (Bloomberg)
Jun-30-25 08:00AM	Redwood Logistics Showcases OTM, WMS & GTM Integrations at Oracle OTM SIG 2025 (GlobeNewswire)
Jun-27-25 08:44AM	Auto & Transport Roundup: Market Talk (The Wall Street Journal)
Jun-26-25 05:26PM	Auto & Transport Roundup: Market Talk (The Wall Street Journal) +8.01%
09:49AM	General Mills upgraded, Trade Desk downgraded: Wall Street's top analyst calls (The Fly)
Jun-18-25 10:15AM	Forward Air Chairman Ousted, Potential Sale Appears in View (Sourcing Journal)
08:30AM	Forward Air and Omni Logistics Recognized for Exceptional Service, Performance, and Partnership (Business Wire)
Jun-16-25 12:09PM	Forward Air stock surges on report PE firms express acquisition interest (Investing.com) +16.23%
Jun-13-25 05:04PM	US trucker Forward Air attracts takeover interest from buyout firms, sources say (Reuters)
Jun-12-25 10:13AM	Forward Air chairman, 2 directors leave after shareholder vote (FreightWaves)
09:20AM	Ancora Comments on Clear Mandate from Forward Air Shareholders That a Well-Run Sale Process is Urgently Needed (Business Wire)
08:00AM	Forward Air Corporation Announces Results of 2025 Annual Meeting and Board Changes (Business Wire)
Jun-05-25 04:00PM	Lakeview Announces Intent to Withhold Support for Directors of Forward Air Corp. at Annual Meeting (Business Wire)
Jun-02-25 04:00PM	Glass Lewis Joins ISS in Recommending Forward Air Shareholders Vote AGAINST Three Unfit Legacy Directors at 2025 Annual Meeting (Business Wire) +7.34%
12:50PM	Proxy adviser backs activists move to reshape Forward Air board (FreightWaves)
07:00AM	Forward Air Shareholders Recommended to Vote AGAINST Three Unfit Legacy Directors at 2025 Annual Meeting by ISS (Business Wire)
May-21-25 11:27AM	Activist investor pushes Forward Air to execute value-maximizing sale (FreightWaves) -8.48%
06:27AM	Forward Air pushes for Delaware reincorporation via merger (Trucking Dive)
May-20-25 04:05PM	Ancora Releases Presentation Illustrating Why Shareholders Should Vote AGAINST Three Unfit Legacy Directors at 2025 Annual Meeting (Business Wire)
May-14-25 01:50PM	Irenic Expresses Governance Concerns Pertaining to Forward Air Corporation (Business Wire)
May-08-25 03:28AM	Forward Air Corp (FWRD) Q1 2025 Earnings Call Highlights: Strategic Growth Plans Amidst Market ... (GuruFocus.com)
May-07-25 07:58PM	Forward Air targets $5B revenue goal by 2030 amid pricing improvements and operational integration (Seeking Alpha)

Show Previous News

Insider Trading	Relationship	Date	Transaction	Cost	#Shares	Value ($)	#Shares Total	SEC Form 4
Cetus Capital VI, L.P.	10% Owner	Nov 10 '25	Sale	21.83	120,000	2,619,300	3,193,709	Feb 17 09:56 PM
Cetus Capital VI, L.P.	10% Owner	Nov 06 '25	Sale	21.85	75,000	1,638,903	3,313,709	Feb 17 09:56 PM
Cetus Capital VI, L.P.	10% Owner	Nov 11 '25	Sale	21.71	67,163	1,458,109	3,126,546	Feb 17 09:56 PM
Cetus Capital VI, L.P.	10% Owner	Nov 12 '25	Sale	22.38	10,000	223,800	3,116,546	Feb 17 09:56 PM

Forward Air Corp. engages in the provision of transportation and logistics services, including less-than-truckload (LTL), truckload, intermodal drayage, air and ocean forwarding, and contract logistics. It operates through the following segments: Expedited Freight, Omni Logistics, and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional and national LTL services, as well as truckload, local pickup and delivery, shipment consolidation and deconsolidation, warehousing, customs brokerage and other handling services. The Omni Logistics segment provides air and ocean freight consolidation and forwarding, customs brokerage, contract logistics, warehousing, value-added services and other supply chain solutions. The Intermodal segment provides first- and last-mile high-value intermodal container drayage services to and from seaports and railheads. The company was founded by Scott M. Niswonger on October 23, 1981 and is headquartered in Dallas, TX.

PresidentMr. Shawn Stewart

Chief Financial OfficerMr. Jamie G. Pierson

Chief Legal Officer & SecretaryMr. Michael L. Hance J.D.

Chief Commercial OfficerMr. Eric Brandt

Chief Accounting OfficerMr. James R. Faught

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FWRD

Forward Air Corp

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