Forward Air (FWRD) Stock Forecast, Price Target & Predictions
FWRD Stock Forecast
Forward Air stock forecast is as follows: an average price target of $37.67 (represents a 32.64% upside from FWRD’s last price of $28.40) and a rating consensus of 'Buy', based on 4 wall street analysts offering a 1-year stock forecast.
FWRD Price Target
The average price target for Forward Air (FWRD) is $37.67 based on 1-year price targets from 4 Wall Street analysts in the past 3 months, with a price target range of $45.00 to $32.00. This represents a potential 32.64% upside from FWRD's last price of $28.40.
FWRD Analyst Ratings
According to 4 Wall Street analysts, Forward Air's rating consensus is 'Buy'. The analyst rating breakdown for FWRD stock is 0 'Strong Buy' (0.00%), 2 'Buy' (50.00%), 2 'Hold' (50.00%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Forward Air Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Nov 05, 2024 | Stephanie Moore | Jefferies | $45.00 | $36.50 | 23.29% | 58.45% |
| Oct 21, 2024 | Bruce Chan | Stifel Nicolaus | $36.00 | $39.66 | -9.23% | 26.76% |
| Oct 18, 2024 | Stephanie Moore | Jefferies | $47.00 | $40.16 | 17.03% | 65.49% |
| Oct 01, 2024 | Garrett Holland | Robert W. Baird | $32.00 | $34.92 | -8.36% | 12.68% |
| Jul 03, 2024 | Garrett Holland | Robert W. Baird | $17.00 | $19.34 | -12.10% | -40.14% |
| May 21, 2024 | Bruce Chan | Stifel Nicolaus | $23.00 | $12.56 | 83.12% | -19.01% |
| Apr 11, 2024 | Scott Group | Wolfe Research | $25.00 | $28.55 | -12.43% | -11.97% |
| Jul 29, 2022 | Patrick Tyler Brown | Raymond James | $140.00 | $104.93 | 33.42% | 392.96% |
| Jul 15, 2022 | Patrick Tyler Brown | Raymond James | $135.00 | $89.69 | 50.52% | 375.35% |
| Apr 29, 2022 | Stifel Nicolaus | $136.00 | $98.00 | 38.78% | 378.87% | |
| Jan 04, 2022 | Jack Atkins | Stephens | $165.00 | $124.61 | 32.41% | 480.99% |
The latest Forward Air stock forecast, released on Nov 05, 2024 by Stephanie Moore from Jefferies, set a price target of $45.00, which represents a 23.29% increase from the stock price at the time of the forecast ($36.50), and a 58.45% increase from FWRD last price ($28.40).
Forward Air Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 4 | 7 |
| Avg Price Target | - | $40.00 | $32.14 |
| Last Closing Price | $28.40 | $28.40 | $28.40 |
| Upside/Downside | -100.00% | 40.85% | 13.17% |
In the current month, the average price target of Forward Air stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Forward Air's last price of $28.40. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Oct 18, 2024 | Jefferies | Buy | Buy | Hold |
| May 28, 2024 | Wolfe Research | Positive | Peer Perform | Upgrade |
| May 28, 2024 | Wolfe Research | Underperform | Positive | Upgrade |
| Jan 10, 2024 | Wolfe Research | Underperform | Downgrade | |
| Aug 29, 2023 | Jefferies | Buy | Upgrade | |
| Aug 11, 2023 | Raymond James | Strong Buy | Market Perform | Downgrade |
| Jul 19, 2023 | Morgan Stanley | Outperform | Upgrade | |
| Jul 20, 2022 | Benchmark | Hold | Initialise | |
| Jul 15, 2022 | Raymond James | Strong Buy | Strong Buy | Hold |
Forward Air's last stock rating was published by Jefferies on Oct 18, 2024. The company gave FWRD a "Buy" rating, the same as its previous rate.
Forward Air Financial Forecast
Forward Air Revenue Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | $338.35M | $413.37M | - | $427.07M | $481.20M | $510.02M | $515.22M | $466.96M | $459.93M | $419.63M | $420.67M | $362.20M | $350.34M | $332.00M | $281.68M | $342.51M | $381.50M | $361.66M | $345.76M | $321.47M | $302.61M | $246.98M |
| Avg Forecast | $712.63M | $702.57M | $679.00M | $654.63M | $667.40M | $655.70M | $642.92M | $514.95M | $406.96M | $420.04M | $452.65M | $459.92M | $505.70M | $504.25M | $506.85M | $455.15M | $443.31M | $425.95M | $391.50M | $341.94M | $344.12M | $323.00M | $268.48M | $344.24M | $386.10M | $354.77M | $348.42M | $324.74M | $287.47M | $222.98M |
| High Forecast | $730.47M | $720.16M | $696.00M | $675.73M | $670.73M | $655.70M | $659.02M | $527.84M | $413.01M | $430.56M | $463.98M | $471.44M | $518.36M | $504.25M | $506.85M | $455.15M | $443.31M | $425.95M | $391.50M | $341.94M | $344.12M | $323.00M | $268.48M | $344.24M | $386.10M | $354.77M | $348.42M | $324.74M | $344.96M | $267.57M |
| Low Forecast | $697.79M | $687.93M | $664.86M | $633.54M | $665.13M | $655.70M | $629.54M | $504.23M | $403.02M | $411.29M | $443.22M | $450.34M | $495.17M | $504.25M | $506.85M | $455.15M | $443.31M | $425.95M | $391.50M | $341.94M | $344.12M | $323.00M | $268.48M | $344.24M | $386.10M | $354.77M | $348.42M | $324.74M | $229.98M | $178.38M |
| # Analysts | 1 | 1 | 1 | 2 | 3 | 1 | 4 | 4 | 5 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 9 | 9 | 9 | 9 | 5 | 5 | 5 | 5 | 12 | 16 |
| Surprise % | - | - | - | - | - | - | - | - | 0.83% | 0.98% | - | 0.93% | 0.95% | 1.01% | 1.02% | 1.03% | 1.04% | 0.99% | 1.07% | 1.06% | 1.02% | 1.03% | 1.05% | 0.99% | 0.99% | 1.02% | 0.99% | 0.99% | 1.05% | 1.11% |
Forward Air's average Quarter revenue forecast for Mar 24 based on 4 analysts is $514.95M, with a low forecast of $504.23M, and a high forecast of $527.84M. FWRD's average Quarter revenue forecast represents a 52.20% increase compared to the company's last Quarter revenue of $338.35M (Dec 23).
Forward Air EBITDA Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 2 | 3 | 1 | 4 | 4 | 5 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 9 | 9 | 9 | 9 | 5 | 5 | 5 | 5 | 12 | 16 |
| EBITDA | - | - | - | - | - | - | - | - | $-27.37M | $25.69M | - | $64.14M | $73.81M | $83.93M | $87.14M | $68.48M | $65.73M | $44.92M | $51.54M | $26.43M | $10.35M | $32.34M | $15.96M | $22.33M | $42.92M | $41.22M | $41.23M | $35.56M | $34.92M | $33.20M |
| Avg Forecast | $80.65M | $79.51M | $76.84M | $74.08M | $75.53M | $74.21M | $72.76M | $72.78M | $46.06M | $47.54M | $51.23M | $66.17M | $65.52M | $59.12M | $59.42M | $52.30M | $51.98M | $49.94M | $45.90M | $34.31M | $40.35M | $37.87M | $31.48M | $28.32M | $45.27M | $41.59M | $40.85M | $34.41M | $33.09M | $27.39M |
| High Forecast | $82.67M | $81.50M | $78.77M | $76.47M | $75.91M | $74.21M | $74.58M | $87.34M | $46.74M | $48.73M | $52.51M | $79.40M | $78.63M | $59.12M | $59.42M | $62.77M | $51.98M | $49.94M | $45.90M | $41.17M | $40.35M | $37.87M | $31.48M | $33.99M | $45.27M | $41.59M | $40.85M | $41.30M | $39.70M | $32.86M |
| Low Forecast | $78.97M | $77.85M | $75.24M | $71.70M | $75.27M | $74.21M | $71.24M | $58.23M | $45.61M | $46.55M | $50.16M | $52.93M | $52.42M | $59.12M | $59.42M | $41.84M | $51.98M | $49.94M | $45.90M | $27.45M | $40.35M | $37.87M | $31.48M | $22.66M | $45.27M | $41.59M | $40.85M | $27.53M | $26.47M | $21.91M |
| Surprise % | - | - | - | - | - | - | - | - | -0.59% | 0.54% | - | 0.97% | 1.13% | 1.42% | 1.47% | 1.31% | 1.26% | 0.90% | 1.12% | 0.77% | 0.26% | 0.85% | 0.51% | 0.79% | 0.95% | 0.99% | 1.01% | 1.03% | 1.06% | 1.21% |
5 analysts predict FWRD's average Quarter EBITDA for Dec 23 to be $46.06M, with a high of $46.74M and a low of $45.61M. This is 79.28% upper than Forward Air's previous annual EBITDA (Sep 23) of $25.69M.
Forward Air Net Income Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 2 | 3 | 1 | 4 | 4 | 5 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 9 | 9 | 9 | 9 | 5 | 5 | 5 | 5 | 12 | 16 |
| Net Income | - | - | - | - | - | - | - | - | $-14.72M | $9.29M | - | $36.37M | $42.94M | $52.13M | $55.43M | $42.69M | $38.20M | $23.54M | $30.68M | $11.18M | $-4.44M | $16.65M | $3.15M | $8.38M | $24.17M | $22.20M | $22.33M | $18.41M | $17.74M | $14.24M |
| Avg Forecast | $9.36M | $7.06M | $4.82M | $-1.05M | $-3.13M | $-4.75M | $-5.12M | $45.37M | $27.40M | $31.22M | $35.53M | $41.24M | $40.34M | $51.01M | $48.48M | $32.60M | $35.04M | $28.77M | $26.09M | $14.52M | $19.39M | $11.53M | $2.23M | $10.62M | $24.84M | $20.87M | $21.02M | $17.81M | $16.81M | $11.75M |
| High Forecast | $9.66M | $7.28M | $4.98M | $449.05K | $596.07K | $-4.62M | $-4.98M | $54.44M | $28.25M | $31.23M | $36.63M | $49.49M | $48.41M | $51.01M | $48.48M | $39.12M | $35.04M | $28.77M | $26.60M | $17.42M | $19.39M | $11.53M | $2.23M | $12.75M | $24.84M | $20.87M | $21.02M | $21.38M | $20.17M | $14.10M |
| Low Forecast | $9.11M | $6.86M | $4.69M | $-2.54M | $-9.98M | $-4.90M | $-5.29M | $36.29M | $26.27M | $31.22M | $34.42M | $32.99M | $32.27M | $51.01M | $48.48M | $26.08M | $35.04M | $28.77M | $25.58M | $11.61M | $19.39M | $11.53M | $2.23M | $8.50M | $24.84M | $20.87M | $21.02M | $14.25M | $13.45M | $9.40M |
| Surprise % | - | - | - | - | - | - | - | - | -0.54% | 0.30% | - | 0.88% | 1.06% | 1.02% | 1.14% | 1.31% | 1.09% | 0.82% | 1.18% | 0.77% | -0.23% | 1.44% | 1.41% | 0.79% | 0.97% | 1.06% | 1.06% | 1.03% | 1.06% | 1.21% |
Forward Air's average Quarter net income forecast for Dec 23 is $27.40M, with a range of $26.27M to $28.25M. FWRD's average Quarter net income forecast represents a 194.98% increase compared to the company's last Quarter net income of $9.29M (Sep 23).
Forward Air SG&A Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 2 | 3 | 1 | 4 | 4 | 5 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 9 | 9 | 9 | 9 | 5 | 5 | 5 | 5 | 12 | 16 |
| SG&A | - | - | - | - | - | - | - | - | - | $13.63M | - | $13.78M | $12.50M | $12.09M | $13.20M | $11.97M | $11.57M | $9.98M | $10.89M | $9.74M | $8.47M | $8.67M | $7.72M | $11.77M | $11.91M | $10.93M | $13.23M | $9.37M | $7.15M | $5.81M |
| Avg Forecast | $20.93M | $20.64M | $19.95M | $19.23M | $19.61M | $19.26M | $18.89M | $12.72M | $11.96M | $12.34M | $13.30M | $11.56M | $11.53M | $11.50M | $11.56M | $9.14M | $10.11M | $9.71M | $8.93M | $12.65M | $7.85M | $7.37M | $6.12M | $14.93M | $8.80M | $8.09M | $7.95M | $9.07M | $6.78M | $4.79M |
| High Forecast | $21.46M | $21.16M | $20.45M | $19.85M | $19.70M | $19.26M | $19.36M | $15.26M | $12.13M | $12.65M | $13.63M | $13.88M | $13.84M | $11.50M | $11.56M | $10.97M | $10.11M | $9.71M | $8.93M | $15.18M | $7.85M | $7.37M | $6.12M | $17.91M | $8.80M | $8.09M | $7.95M | $10.88M | $8.13M | $5.75M |
| Low Forecast | $20.50M | $20.21M | $19.53M | $18.61M | $19.54M | $19.26M | $18.49M | $10.18M | $11.84M | $12.08M | $13.02M | $9.25M | $9.23M | $11.50M | $11.56M | $7.31M | $10.11M | $9.71M | $8.93M | $10.12M | $7.85M | $7.37M | $6.12M | $11.94M | $8.80M | $8.09M | $7.95M | $7.25M | $5.42M | $3.83M |
| Surprise % | - | - | - | - | - | - | - | - | - | 1.10% | - | 1.19% | 1.08% | 1.05% | 1.14% | 1.31% | 1.14% | 1.03% | 1.22% | 0.77% | 1.08% | 1.18% | 1.26% | 0.79% | 1.35% | 1.35% | 1.66% | 1.03% | 1.06% | 1.21% |
Forward Air's average Quarter SG&A projection for Dec 23 is $11.96M, based on 5 Wall Street analysts, with a range of $11.84M to $12.13M. The forecast indicates a -12.26% fall compared to FWRD last annual SG&A of $13.63M (Sep 23).
Forward Air EPS Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 2 | 3 | 1 | 4 | 4 | 5 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 9 | 9 | 9 | 9 | 5 | 5 | 5 | 5 | 12 | 16 |
| EPS | - | - | - | - | - | - | - | - | $3.94 | $0.36 | - | $1.37 | $1.61 | $1.94 | $2.05 | $1.57 | $1.41 | $0.86 | $1.12 | $0.40 | $-0.17 | $0.60 | $0.11 | $0.30 | $0.86 | $0.78 | $0.78 | $0.64 | $0.60 | $0.47 |
| Avg Forecast | $0.34 | $0.25 | $0.17 | $-0.04 | $-0.11 | $-0.17 | $-0.18 | $0.02 | $0.98 | $1.12 | $1.27 | $1.30 | $1.94 | $1.90 | $1.81 | $1.33 | $1.31 | $1.07 | $0.97 | $0.57 | $0.72 | $0.43 | $0.08 | $0.41 | $0.93 | $0.78 | $0.78 | $0.62 | $0.54 | $0.33 |
| High Forecast | $0.35 | $0.26 | $0.18 | $0.02 | $0.02 | $-0.17 | $-0.18 | $0.02 | $1.01 | $1.12 | $1.31 | $1.36 | $1.95 | $1.90 | $1.81 | $1.38 | $1.31 | $1.07 | $0.99 | $0.57 | $0.72 | $0.43 | $0.08 | $0.41 | $0.93 | $0.78 | $0.78 | $0.62 | $0.65 | $0.40 |
| Low Forecast | $0.33 | $0.25 | $0.17 | $-0.09 | $-0.36 | $-0.18 | $-0.19 | $0.02 | $0.94 | $1.12 | $1.23 | $1.23 | $1.93 | $1.90 | $1.81 | $1.28 | $1.31 | $1.07 | $0.95 | $0.57 | $0.72 | $0.43 | $0.08 | $0.41 | $0.93 | $0.78 | $0.78 | $0.62 | $0.43 | $0.26 |
| Surprise % | - | - | - | - | - | - | - | - | 4.02% | 0.32% | - | 1.05% | 0.83% | 1.02% | 1.13% | 1.18% | 1.08% | 0.80% | 1.15% | 0.70% | -0.24% | 1.40% | 1.32% | 0.74% | 0.93% | 1.00% | 0.99% | 1.04% | 1.11% | 1.42% |
According to 4 Wall Street analysts, Forward Air's projected average Quarter EPS for Mar 24 is $0.02, with a low estimate of $0.02 and a high estimate of $0.02. This represents a -99.60% decrease compared to FWRD previous annual EPS of $3.94 (Dec 23).
Forward Air Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| EXPD | Expeditors of Washington | $111.19 | $195.67 | 75.98% | Hold |
| FWRD | Forward Air | $28.40 | $37.67 | 32.64% | Buy |
| CHRW | C.H. Robinson Worldwide | $104.28 | $110.13 | 5.61% | Buy |
| JBHT | J.B. Hunt Transport Services | $171.57 | $175.20 | 2.12% | Buy |
| HUBG | Hub Group | $43.96 | $43.67 | -0.66% | Hold |
| LSTR | Landstar System | $176.26 | $164.67 | -6.58% | Hold |