Forward Air (FWRD) Stock Forecast, Price Target & Predictions


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FWRD Stock Forecast


Forward Air stock forecast is as follows: an average price target of $73.83 (represents a 105.77% upside from FWRD’s last price of $35.88) 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 $73.83 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 $25.00. This represents a potential 105.77% upside from FWRD's last price of $35.88.

FWRD Analyst Ratings


Buy

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


DateAnalystCompanyPrice TargetPrice when PublishedPrice Target/Price when PublishedPrice Target/Last Closing Price
Nov 05, 2024Stephanie MooreJefferies--23.29%25.42%
Oct 21, 2024Bruce ChanStifel Nicolaus---9.23%0.33%
Oct 18, 2024Stephanie MooreJefferies--17.03%30.99%
Oct 01, 2024Garrett HollandRobert W. Baird---8.36%-10.81%
Jul 03, 2024Garrett HollandRobert W. Baird---12.10%-52.62%
May 21, 2024Bruce ChanStifel Nicolaus--83.12%-35.90%
Apr 11, 2024Scott GroupWolfe Research---12.43%-30.32%
Jul 29, 2022Patrick Tyler BrownRaymond James--33.42%290.19%
Jul 15, 2022Patrick Tyler BrownRaymond James--50.52%276.25%
Apr 29, 2022Stifel Nicolaus--38.78%279.04%
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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 25.42% increase from FWRD last price ($35.88).

Forward Air Price Target by Period


1M3M12M
# Anlaysts147
Avg Price Target$45.00$40.00$32.14
Last Closing Price$35.88$35.88$35.88
Upside/Downside25.42%11.48%-10.42%

In the current month, the average price target of Forward Air stock is $45.00, according to 1 Wall Street analyst offering twelve months forecast. The average price target represents a 25.42% increase as opposed to Forward Air's last price of $35.88. This month's average price target is up 12.50% compared to last quarter, and up 40.01% compared to last year.

Analyst Ratings Upgrades/Downgrades


DateCompanyPrevious RatingNew RatingRating Change
Oct 18, 2024JefferiesBuyBuyHold
May 28, 2024Wolfe ResearchPositivePeer PerformUpgrade
May 28, 2024Wolfe ResearchUnderperformPositiveUpgrade
Jan 10, 2024Wolfe ResearchUnderperformDowngrade
Aug 29, 2023JefferiesBuyUpgrade
Aug 11, 2023Raymond JamesStrong BuyMarket PerformDowngrade
Jul 19, 2023Morgan StanleyOutperformUpgrade
Jul 20, 2022BenchmarkHoldInitialise
Jul 15, 2022Raymond JamesStrong BuyStrong BuyHold
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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 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19Jun 19Mar 19Mar 18Mar 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$726.87M$716.60M$692.56M$675.73M$670.73M$655.70M$655.77M$525.24M$413.01M$428.43M$461.69M$469.11M$515.80M$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$700.93M$691.02M$667.84M$633.54M$665.13M$655.70M$632.36M$506.49M$403.02M$413.14M$445.21M$452.37M$497.39M$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
# Analysts11123144544433334444999955551216
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 $506.49M, and a high forecast of $525.24M. 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 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19Jun 19Mar 19Mar 18Mar 17
# Analysts11123144544433334444999955551216
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$82.26M$81.10M$78.38M$76.47M$75.91M$74.21M$74.21M$87.34M$46.74M$48.49M$52.25M$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$79.32M$78.20M$75.58M$71.70M$75.27M$74.21M$71.56M$58.23M$45.61M$46.76M$50.38M$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 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19Jun 19Mar 19Mar 18Mar 17
# Analysts11123144544433334444999955551216
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$-3.41M$-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$9.60M$7.24M$4.94M$449.05K$649.29K$-4.65M$-5.01M$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$9.16M$6.90M$4.72M$-2.54M$-10.88M$-4.87M$-5.26M$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 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19Jun 19Mar 19Mar 18Mar 17
# Analysts11123144544433334444999955551216
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$21.35M$21.05M$20.35M$19.85M$19.70M$19.26M$19.26M$15.26M$12.13M$12.59M$13.56M$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$20.59M$20.30M$19.62M$18.61M$19.54M$19.26M$18.58M$10.18M$11.84M$12.14M$13.08M$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 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19Jun 19Mar 19Mar 18Mar 17
# Analysts11123144544433334444999955551216
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$-0.12$-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$0.34$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$-0.39$-0.17$-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


TickerCompanyLast Closing PriceAvg Price TargetUpside/DownsideAvg Rating
FWRDForward Air--105.77%Buy
HUBGHub Group--69.81%Hold
EXPDExpeditors of Washington--28.23%Hold
JBHTJ.B. Hunt Transport Services--5.59%Buy
CHRWC.H. Robinson Worldwide---2.52%Buy
LSTRLandstar System---7.87%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 $73.83 with a range of $25 to $165, implying a 105.77% from its last price of $35.88. 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 105.77% (from the last price of $35.88 to the average price target of $73.83), up by 359.87% based on the highest stock price target, and down by -30.32% based on the lowest stock price target.

Can Forward Air stock reach $50?

FWRD's average twelve months analyst stock price target of $73.83 supports the claim that Forward Air can reach $50 in the near future.

What is Forward Air's current price target trend?

1 Wall Street analyst forecast a $45 price target for Forward Air (FWRD) this month, up 25.42% from its last price of $35.88. Compared to the last 3 and 12 months, the average price target increased by 11.48% and decreased by -10.42%, respectively.

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 $2.51B, low $2.46B), average EBITDA is $295.28M (high $311.66M, low $279.27M), average net income is $32.09M (high $45.43M, low $15.29M), average SG&A $70.47M (high $73.49M, low $67.55M), and average EPS is $-0.46 (high $-0.307, low $-0.736). FWRD's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $2.75B (high $2.81B, low $2.69B), average EBITDA is $311.09M (high $318.21M, low $304.8M), average net income is $20.19M (high $22.24M, low $18.24M), average SG&A $80.75M (high $82.6M, low $79.12M), and average EPS is $0.723 (high $0.796, low $0.653).

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 $210.98M by -30.98%. The company's net income was $167.35M, beating the average estimation of $135.39M by 23.61%. Apple's SG&A was $0, missing the average forecast of $49.15M 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 $46.06M by -159.43%. Forward Air's net income was $-14.721M, missing the average estimation of $27.4M by -153.73%. The company's SG&A was $0, missing the average forecast of $11.96M by -100.00%. Lastly, the company's EPS was $3.94, beating the average prediction of $0.981 by 301.81%