Tag - FWRD

Forward Air Corp. (Nasdaq:FWRD) is one of the pack mules of the transportation industry, a hybrid that blends its niche air-freight service with surface movement of cargo. And despite the economic doldrums and sky-high fuel costs, Forward Air is moving forward as it hauls out a plan that includes organic growth and acquisitions.

Of the dozen analysts surveyed by Thomson Reuters, there’s an even split of six calling Forward Air a “strong buy” and six rating it the equivalent of “hold.” The median price target is $41 for Forward Air, which saw its 52-week high of $41.90 on Aug. 9, 2007, while hitting its 52-week low of $25.55 on Jan. 23. The stock closed Thursday at $36.02.

KeyBanc Capital Markets analyst Todd Fowler, who has the stock at “hold,” said in an interview that Forward Air is currently benefiting “from some things they’ve done internally, as well as external factors, the prime one being that (transportation competitor) Kitty Hawk filed for bankruptcy in October and went out of business. That helped stabilize pricing in the market.”

Fowler is on the sidelines with Forward Air not only because of its exposure to what is known as the deferred air-freight business, “since people tend to shy away” in a soft economy; but also because the company might need some time to absorb three recent acquisitions...