Forward Air (FWRD) Stock Forecast, Price Target & Predictions
FWRD Stock Forecast
Forward Air stock forecast is as follows: an average price target of $74.00 (represents a 104.25% upside from FWRD’s last price of $36.23) 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 $74.00 based on 1-year price targets from 4 Wall Street analysts in the past 3 months, with a price target range of $165.00 to $17.00. This represents a potential 104.25% upside from FWRD's last price of $36.23.
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 |
|---|---|---|---|---|---|---|
| Jul 03, 2024 | Garrett Holland | Robert W. Baird | $17.00 | $19.34 | -12.10% | -53.08% |
| May 21, 2024 | Bruce Chan | Stifel Nicolaus | $23.00 | $12.56 | 83.12% | -36.52% |
| Apr 11, 2024 | Scott Group | Wolfe Research | $25.00 | $28.55 | -12.43% | -31.00% |
| Jul 29, 2022 | Patrick Tyler Brown | Raymond James | $140.00 | $104.93 | 33.42% | 286.42% |
| Jul 15, 2022 | Patrick Tyler Brown | Raymond James | $135.00 | $89.69 | 50.52% | 272.62% |
| Apr 29, 2022 | - | Stifel Nicolaus | $136.00 | $98.00 | 38.78% | 275.38% |
| Jan 04, 2022 | Jack Atkins | Stephens | $165.00 | $124.61 | 32.41% | 355.42% |
The latest Forward Air stock forecast, released on Jul 03, 2024 by Garrett Holland from Robert W. Baird, set a price target of $17.00, which represents a -12.10% decrease from the stock price at the time of the forecast ($19.34), and a -53.08% decrease from FWRD last price ($36.23).
Forward Air Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 1 | 3 |
| Avg Price Target | - | $17.00 | $21.67 |
| Last Closing Price | $36.23 | $36.23 | $36.23 |
| Upside/Downside | -100.00% | -53.08% | -40.19% |
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 $36.23. 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 |
|---|---|---|---|---|
| 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 Wolfe Research on May 28, 2024. The company Upgrade its FWRD rating from "Positive" to "Peer Perform".
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 | Jul 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 | Dec 18 | Sep 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | $338.35M | $413.37M | - | $427.07M | $481.20M | $510.02M | - | $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 | $356.56M | $331.38M |
| Avg Forecast | $710.40M | $701.85M | $692.10M | $664.30M | $667.73M | $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 | $307.77M | $348.84M |
| High Forecast | $716.68M | $708.06M | $698.22M | $670.18M | $673.63M | $661.23M | $648.61M | $519.50M | $413.01M | $423.76M | $456.65M | $463.99M | $510.17M | $508.71M | $506.85M | $478.28M | $465.84M | $447.60M | $411.39M | $359.32M | $361.61M | $339.41M | $282.12M | $361.73M | $405.72M | $372.80M | $366.12M | $341.25M | $369.32M | $418.61M |
| Low Forecast | $703.68M | $695.21M | $685.56M | $658.02M | $661.41M | $649.23M | $636.85M | $510.08M | $403.02M | $416.07M | $448.37M | $455.57M | $500.92M | $499.48M | $506.85M | $433.49M | $422.21M | $405.67M | $372.86M | $325.66M | $327.74M | $307.63M | $255.70M | $327.85M | $367.72M | $337.88M | $331.83M | $309.28M | $246.21M | $279.07M |
| # Analysts | 1 | 1 | 1 | 1 | 1 | 3 | 1 | 4 | 5 | 4 | 4 | 4 | 3 | 3 | 1 | 3 | 4 | 5 | 6 | 4 | 6 | 4 | 6 | 4 | 5 | 3 | 5 | 3 | 8 | 8 |
| Surprise % | - | - | - | - | - | - | - | - | 0.83% | 0.98% | - | 0.93% | 0.95% | 1.01% | - | 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% | 1.16% | 0.95% |
Forward Air's average Quarter revenue forecast for Mar 24 based on 4 analysts is $514.95M, with a low forecast of $510.08M, and a high forecast of $519.50M. 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 | Jul 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 | Dec 18 | Sep 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 3 | 1 | 4 | 5 | 4 | 4 | 4 | 3 | 3 | 1 | 3 | 4 | 5 | 6 | 4 | 6 | 4 | 6 | 4 | 5 | 3 | 5 | 3 | 8 | 8 |
| EBITDA | - | - | - | - | - | - | - | - | $-27.37M | $25.69M | - | $64.14M | $73.81M | $83.93M | - | $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 | $45.88M | $40.17M |
| Avg Forecast | $83.29M | $82.29M | $81.14M | $77.88M | $78.29M | $76.88M | $75.38M | $72.78M | $47.71M | $49.25M | $53.07M | $66.17M | $59.29M | $46.18M | $59.42M | $52.30M | $59.57M | $41.99M | $41.56M | $34.31M | $20.81M | $19.55M | $11.97M | $28.32M | $46.62M | $41.22M | $41.75M | $34.41M | $38.61M | $42.18M |
| High Forecast | $84.03M | $83.01M | $81.86M | $78.57M | $78.98M | $77.52M | $76.04M | $87.34M | $48.42M | $49.68M | $53.54M | $79.40M | $59.81M | $55.42M | $59.42M | $62.77M | $71.48M | $50.38M | $49.88M | $41.17M | $24.97M | $23.46M | $14.36M | $33.99M | $55.94M | $49.46M | $50.10M | $41.30M | $46.33M | $50.62M |
| Low Forecast | $82.50M | $81.51M | $80.38M | $77.15M | $77.55M | $76.12M | $74.67M | $58.23M | $47.25M | $48.78M | $52.57M | $52.93M | $58.73M | $36.95M | $59.42M | $41.84M | $47.65M | $33.59M | $33.25M | $27.45M | $16.64M | $15.64M | $9.58M | $22.66M | $37.29M | $32.97M | $33.40M | $27.53M | $30.89M | $33.74M |
| Surprise % | - | - | - | - | - | - | - | - | -0.57% | 0.52% | - | 0.97% | 1.24% | 1.82% | - | 1.31% | 1.10% | 1.07% | 1.24% | 0.77% | 0.50% | 1.65% | 1.33% | 0.79% | 0.92% | 1.00% | 0.99% | 1.03% | 1.19% | 0.95% |
5 analysts predict FWRD's average Quarter EBITDA for Dec 23 to be $47.71M, with a high of $48.42M and a low of $47.25M. This is 85.73% 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 | Jul 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 | Dec 18 | Sep 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 3 | 1 | 4 | 5 | 4 | 4 | 4 | 3 | 3 | 1 | 3 | 4 | 5 | 6 | 4 | 6 | 4 | 6 | 4 | 5 | 3 | 5 | 3 | 8 | 8 |
| Net Income | - | - | - | - | - | - | - | - | $-14.72M | $9.29M | - | $36.37M | $42.94M | $52.13M | - | $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 | $27.68M | $22.33M |
| Avg Forecast | $12.33M | $9.92M | $4.69M | $-804.09K | $-1.29M | $-3.93M | $-4.91M | $45.37M | $26.28M | $29.95M | $34.08M | $41.24M | $52.03M | $24.20M | $47.50M | $32.60M | $36.67M | $22.00M | $24.74M | $14.52M | $-8.93M | $10.07M | $2.37M | $10.62M | $26.25M | $22.20M | $22.61M | $17.81M | $23.30M | $23.45M |
| High Forecast | $12.47M | $10.03M | $4.74M | $-794.21K | $-1.28M | $13.37M | $-4.85M | $54.44M | $27.10M | $30.30M | $34.47M | $49.49M | $52.63M | $29.04M | $47.50M | $39.12M | $44.01M | $26.40M | $29.69M | $17.42M | $-7.14M | $12.08M | $2.84M | $12.75M | $31.50M | $26.63M | $27.14M | $21.38M | $27.96M | $28.13M |
| Low Forecast | $12.18M | $9.80M | $4.63M | $-813.33K | $-1.31M | $-18.08M | $-4.97M | $36.29M | $25.20M | $29.58M | $33.66M | $32.99M | $51.39M | $19.36M | $47.50M | $26.08M | $29.34M | $17.60M | $19.79M | $11.61M | $-10.71M | $8.05M | $1.89M | $8.50M | $21.00M | $17.76M | $18.09M | $14.25M | $18.64M | $18.76M |
| Surprise % | - | - | - | - | - | - | - | - | -0.56% | 0.31% | - | 0.88% | 0.83% | 2.15% | - | 1.31% | 1.04% | 1.07% | 1.24% | 0.77% | 0.50% | 1.65% | 1.33% | 0.79% | 0.92% | 1.00% | 0.99% | 1.03% | 1.19% | 0.95% |
Forward Air's average Quarter net income forecast for Dec 23 is $26.28M, with a range of $25.20M to $27.10M. FWRD's average Quarter net income forecast represents a 182.97% 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 | Jul 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 | Dec 18 | Sep 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 3 | 1 | 4 | 5 | 4 | 4 | 4 | 3 | 3 | 1 | 3 | 4 | 5 | 6 | 4 | 6 | 4 | 6 | 4 | 5 | 3 | 5 | 3 | 8 | 8 |
| SG&A | - | - | - | - | - | - | - | - | - | $13.63M | - | $13.78M | $12.50M | $12.09M | - | $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 | $8.74M | $9.20M |
| Avg Forecast | $16.20M | $16.01M | $15.78M | $15.15M | $15.23M | $14.95M | $14.66M | $12.72M | $9.28M | $9.58M | $10.32M | $11.56M | $11.53M | $10.26M | $11.56M | $9.14M | $10.49M | $9.33M | $8.78M | $12.65M | $17.03M | $5.24M | $5.79M | $14.93M | $12.93M | $10.93M | $13.40M | $9.07M | $7.35M | $9.66M |
| High Forecast | $16.34M | $16.15M | $15.92M | $15.28M | $15.36M | $15.08M | $14.79M | $15.26M | $9.42M | $9.66M | $10.41M | $13.88M | $11.63M | $12.32M | $11.56M | $10.97M | $12.58M | $11.20M | $10.54M | $15.18M | $20.44M | $6.29M | $6.95M | $17.91M | $15.52M | $13.12M | $16.08M | $10.88M | $8.82M | $11.60M |
| Low Forecast | $16.05M | $15.85M | $15.63M | $15.01M | $15.08M | $14.81M | $14.52M | $10.18M | $9.19M | $9.49M | $10.22M | $9.25M | $11.42M | $8.21M | $11.56M | $7.31M | $8.39M | $7.46M | $7.03M | $10.12M | $13.63M | $4.19M | $4.63M | $11.94M | $10.35M | $8.74M | $10.72M | $7.25M | $5.88M | $7.73M |
| Surprise % | - | - | - | - | - | - | - | - | - | 1.42% | - | 1.19% | 1.08% | 1.18% | - | 1.31% | 1.10% | 1.07% | 1.24% | 0.77% | 0.50% | 1.65% | 1.33% | 0.79% | 0.92% | 1.00% | 0.99% | 1.03% | 1.19% | 0.95% |
Forward Air's average Quarter SG&A projection for Dec 23 is $9.28M, based on 5 Wall Street analysts, with a range of $9.19M to $9.42M. The forecast indicates a -31.89% 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 | Jul 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 | Dec 18 | Sep 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 3 | 1 | 4 | 5 | 4 | 4 | 4 | 3 | 3 | 1 | 3 | 4 | 5 | 6 | 4 | 6 | 4 | 6 | 4 | 5 | 3 | 5 | 3 | 8 | 8 |
| EPS | - | - | - | - | - | - | - | - | $3.94 | $0.36 | - | $1.37 | $1.61 | $1.94 | - | $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 | $0.95 | $0.76 |
| Avg Forecast | $0.46 | $0.37 | $0.17 | $-0.03 | $-0.05 | $-0.15 | $-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 | $0.69 | $0.84 |
| High Forecast | $0.47 | $0.37 | $0.18 | $-0.03 | $-0.05 | $0.50 | $-0.18 | $0.02 | $1.01 | $1.13 | $1.29 | $1.31 | $1.96 | $1.93 | $1.81 | $1.42 | $1.39 | $1.14 | $1.04 | $0.61 | $0.77 | $0.46 | $0.09 | $0.43 | $0.99 | $0.83 | $0.84 | $0.66 | $0.83 | $1.01 |
| Low Forecast | $0.45 | $0.37 | $0.17 | $-0.03 | $-0.05 | $-0.67 | $-0.19 | $0.02 | $0.94 | $1.10 | $1.26 | $1.28 | $1.92 | $1.88 | $1.81 | $1.25 | $1.23 | $1.01 | $0.91 | $0.54 | $0.68 | $0.40 | $0.08 | $0.38 | $0.87 | $0.73 | $0.74 | $0.58 | $0.55 | $0.67 |
| Surprise % | - | - | - | - | - | - | - | - | 4.02% | 0.32% | - | 1.05% | 0.83% | 1.02% | - | 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% | 1.38% | 0.90% |
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 |
|---|---|---|---|---|---|
| FWRD | Forward Air | $36.23 | $74.00 | 104.25% | Buy |
| HUBG | Hub Group | $45.22 | $89.69 | 98.34% | Hold |
| JBHT | J.B. Hunt Transport Services | $167.99 | $195.00 | 16.08% | Buy |
| CHRW | C.H. Robinson Worldwide | $100.26 | $98.45 | -1.81% | Hold |
| EXPD | Expeditors of Washington | $123.70 | $121.00 | -2.18% | Hold |
| LSTR | Landstar System | $184.12 | $169.38 | -8.01% | Hold |
FWRD Forecast FAQ
Is Forward Air a good buy?
Yes, according to 4 Wall Street analysts, Forward Air (FWRD) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 2 'Buy' recommendations, accounting for 50.00% of FWRD's total ratings.
What is FWRD's price target?
Forward Air (FWRD) average price target is $74 with a range of $17 to $165, implying a 104.25% from its last price of $36.23. The data is based on 4 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Forward Air stock go up soon?
According to Wall Street analysts' prediction for FWRD stock, the company can go up by 104.25% (from the last price of $36.23 to the average price target of $74), up by 355.42% based on the highest stock price target, and down by -53.08% based on the lowest stock price target.
Can Forward Air stock reach $50?
FWRD's average twelve months analyst stock price target of $74 supports the claim that Forward Air can reach $50 in the near future.
What are Forward Air's analysts' financial forecasts?
Forward Air's analysts financial forecasts for the fiscal year (Dec 2024) are as follows: average revenue is $2.48B (high $2.5B, low $2.46B), average EBITDA is $303.32M (high $319.88M, low $286.55M), average net income is $35.23M (high $61.67M, low $11.93M), average SG&A $57.56M (high $60.5M, low $54.59M), and average EPS is $-0.363 (high $0.286, low $-0.893). FWRD's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $2.77B (high $2.79B, low $2.74B), average EBITDA is $324.6M (high $327.47M, low $321.53M), average net income is $26.13M (high $26.45M, low $25.79M), average SG&A $63.14M (high $63.7M, low $62.54M), and average EPS is $0.975 (high $0.987, low $0.962).
Did the FWRD's actual financial results beat the analysts' financial forecasts?
Based on Forward Air's last annual report (Dec 2023), the company's revenue was $1.37B, which missed the average analysts forecast of $1.74B by -21.20%. Apple's EBITDA was $145.62M, missing the average prediction of $216.19M by -32.65%. The company's net income was $167.35M, beating the average estimation of $131.56M by 27.21%. Apple's SG&A was $0, missing the average forecast of $40.75M by -100.00%. Lastly, the company's EPS was $6.42, beating the average prediction of $4.67 by 37.51%. In terms of the last quarterly report (Dec 2023), Forward Air's revenue was $338.35M, missing the average analysts' forecast of $406.96M by -16.86%. The company's EBITDA was $-27.373M, missing the average prediction of $47.71M by -157.37%. Forward Air's net income was $-14.721M, missing the average estimation of $26.28M by -156.01%. The company's SG&A was $0, missing the average forecast of $9.28M by -100.00%. Lastly, the company's EPS was $3.94, beating the average prediction of $0.981 by 301.81%