Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. The company operates through two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling. It also offers expedited truckload brokerage, dedicated fleet, and high security and temperature-controlled logistics services. The Intermodal segment provides intermodal container drayage services; and contract, and container freight station warehouse and handling services. The company serves freight forwarders, third-party logistics companies, integrated air cargo carriers and passenger, passenger and cargo airlines, and steamship lines and retailers. Forward Air Corporation was founded in 1981 and is headquartered in Greeneville, Tennessee.
IPO Year:
Exchange: NASDAQ
Website: forwardaircorp.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/28/2024 | Underperform → Peer Perform | Wolfe Research | |
| 1/10/2024 | Peer Perform → Underperform | Wolfe Research | |
| 8/29/2023 | $110.00 → $85.00 | Hold → Buy | Jefferies |
| 8/28/2023 | Underperform → Peer Perform | Wolfe Research | |
| 8/15/2023 | $130.00 → $80.00 | Outperform → Neutral | Robert W. Baird |
| 8/11/2023 | $127.00 → $103.00 | Buy → Hold | Stifel |
| 8/11/2023 | $80.00 | Peer Perform → Underperform | Wolfe Research |
| 8/11/2023 | Strong Buy → Mkt Perform | Raymond James | |
| 7/19/2023 | $106.00 → $130.00 | Neutral → Outperform | Robert W. Baird |
| 1/4/2023 | $110.00 | Buy → Hold | Jefferies |
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Wolfe Research upgraded Forward Air from Underperform to Peer Perform
Wolfe Research downgraded Forward Air from Peer Perform to Underperform
Jefferies upgraded Forward Air from Hold to Buy and set a new price target of $85.00 from $110.00 previously
Wolfe Research upgraded Forward Air from Underperform to Peer Perform
Robert W. Baird downgraded Forward Air from Outperform to Neutral and set a new price target of $80.00 from $130.00 previously
Stifel downgraded Forward Air from Buy to Hold and set a new price target of $103.00 from $127.00 previously
Wolfe Research downgraded Forward Air from Peer Perform to Underperform and set a new price target of $80.00
Raymond James downgraded Forward Air from Strong Buy to Mkt Perform
Robert W. Baird upgraded Forward Air from Neutral to Outperform and set a new price target of $130.00 from $106.00 previously
Jefferies downgraded Forward Air from Buy to Hold and set a new price target of $110.00
Amends Senior Secured Term Loan Credit Agreement Implements Initial Phase of Transformation Strategy, Reducing Annual Operational Expenditures by Approximately $20 Million Reaffirms Full Year 2024 Consolidated EBITDA Guidance of $300 Million to $310 Million Forward Air Corporation (NASDAQ:FWRD) (the "Company" or "Forward") today announced that its Board of Directors has initiated a comprehensive review of strategic alternatives to maximize shareholder value. The Board will consider a range of options, including a potential sale, merger or other strategic or financial transaction relative to the long-term value potential of the Company on a standalone basis. George Mayes, Independent
Forward Air Corporation (NASDAQ:FWRD) ("Forward") announced today the release of its updated Environmental, Social and Governance (ESG) report, providing a detailed overview of its ESG commitments, goals and progress. The 2024 ESG report includes data that is aligned with the Sustainability Accounting Standards Board, Task Force on Climate-Related Financial Disclosures and Global Reporting Initiative guidance. The report and ESG website are accessible through Forward's investor relations site here. Shawn Stewart, Chief Executive Officer, said, "We remain focused on doing the right thing for our people, our customers, our communities and the environment. Whether it's supporting an inclus
Forward Air Corporation (NASDAQ:FWRD) (the "Company" or "Forward") hosted the third annual Drive for Hope Golf Tournament November 11-12 at Chateau Elan Winery & Resort in Braselton, GA. Through its charitable platform, Operation Forward Freedom, the Company raised $350,000 to benefit Hope For The Warriors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241122287807/en/Forward Air Raised $350,000 for Hope For The Warriors at the Drive For Hope Golf Tournament (Photo: Business Wire) Founded in 2006, Hope For The Warriors is a national nonprofit dedicated to restoring a foundation of stability, strength and community for post-9/11
Forward Air Corporation (NASDAQ:FWRD) (the "Company" or "Forward") today announced that Eric Brandt has joined the Company as Chief Commercial Officer to lead its strategic growth plan and business development efforts. Mr. Brandt brings a strong track record of driving profitable growth in the logistics space, holding leadership roles at Agility, Panalpina, Kraft Foods and most recently, CEVA Logistics, where he served as Executive Vice President of Business Development. He will lead the combined company's commercial strategy and accelerate its ongoing mission of sustainable long-term growth. Shawn Stewart, Chief Executive Officer, said, "Eric will be a key player in launching the combine
Focus pivoting from completing Omni integration and capturing cost synergies to global transformation Stronger cash flow from operations led to increase in liquidity Announces addition of new Chief Commercial Officer Forward Air Corporation (NASDAQ:FWRD) (the "Company", "we", "our", or "us") today reported financial results for the three months ended September 30, 2024, as presented in the tables below on a continuing operations basis, with the Company's former Final Mile business being reported as discontinued operations. "Our team continues to focus on harnessing the power of the combined legacy Forward and Omni companies as we begin the transition from integration to transformation a
Forward Air Corporation (NASDAQ:FWRD) ("Forward" or the "Company") will release its third quarter 2024 earnings after the market closes on Monday, November 4, 2024, and hold a conference call to discuss those results at 4:30 p.m. ET. The Company's conference call will be available online on the Investor Relations portion of the Company's website at ir.forwardaircorp.com or by dialing (800) 225-9448, Access Code: FWRDQ324. A conference call replay will be available on the Investor Relations portion of the Company's website at ir.forwardaircorp.com shortly after the call is completed. About Forward Air Corporation Forward Air is a leading asset-light provider of transportation services acro
Forward Air Corporation (NASDAQ:FWRD) (the "Company") today issued the following statement: The Forward Air Board of Directors and management acknowledge and value the perspectives of the Company's shareholders. The Company has recently undergone a significant transformation, including substantially refreshing its Board and management team, and is focused on continuing to provide industry leading service and executing its strategic plan with a renewed sense of continuous improvement, transparency and accountability. The refreshed Board and management team are actively analyzing the business and strategy to ensure the Company pursues the best path forward to enhance shareholder value. Forw
Alta Fox Capital Management, LLC (together with its affiliates, "Alta Fox" or "we") today issued the following letter to the Board of Directors (the "Board") of Forward Air Corporation (NASDAQ:FWRD) ("Forward Air" or the "Company"): October 7, 2024 Forward Air Corporation 1915 Snapps Ferry Road, Building N Greeneville, Tennessee 37745 Attn: The Board of Directors Members of the Board: Alta Fox owns over 3% of the outstanding common shares of Forward Air. Do not confuse our stake as a vote of confidence in the Company's Board and leadership. On the contrary, we view your disastrous track record of ignoring shareholders' views as abhorrent. However, you have an opportunity now to do the r
Forward Air Corporation (NASDAQ:FWRD) (the "Company", "Forward", "we", "our", or "us") today announced that Jerome Lorrain has been appointed to Forward's Board of Directors (the "Board") effective October 1, 2024. Mr. Lorrain has over 30 years of experience serving in a variety of roles in the logistics and transportation industry. He previously served as Chief Operating Officer of CEVA Logistics, a global end-to-end logistics company, and currently serves as director of Log-Hub, a supply chain solution and optimization company, and as the executive chairman of FluentCargo, a routing solutions provider. Additionally, Mr. Lorrain formerly served as a director of SeaFrigo and as the chairma
Believes the Board Must Engage with Prospective Buyers Following a "Lost Decade" Defined by Overwhelmingly Negative TSR and Significant Underperformance Across 1-, 3-, 5- and 10-Year Periods Contends the Private Market is the Best Place for Forward Air to Fix Balance Sheet Issues, Improve Operations, and Serve Customers and Other Stakeholders Expects a Sale to Deliver Meaningful Premiums Relative to the Company's Current and Unaffected Share Prices, While Eliminating Further Risk for Long-Suffering Shareholders Ancora Holdings Group, LLC (collectively with its affiliates, "Ancora" or "we") today issued the below open letter to the Board of Directors (the "Board") of Forward Air Corpor
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Focus pivoting from completing Omni integration and capturing cost synergies to global transformation Stronger cash flow from operations led to increase in liquidity Announces addition of new Chief Commercial Officer Forward Air Corporation (NASDAQ:FWRD) (the "Company", "we", "our", or "us") today reported financial results for the three months ended September 30, 2024, as presented in the tables below on a continuing operations basis, with the Company's former Final Mile business being reported as discontinued operations. "Our team continues to focus on harnessing the power of the combined legacy Forward and Omni companies as we begin the transition from integration to transformation a
Forward Air Corporation (NASDAQ:FWRD) ("Forward" or the "Company") will release its third quarter 2024 earnings after the market closes on Monday, November 4, 2024, and hold a conference call to discuss those results at 4:30 p.m. ET. The Company's conference call will be available online on the Investor Relations portion of the Company's website at ir.forwardaircorp.com or by dialing (800) 225-9448, Access Code: FWRDQ324. A conference call replay will be available on the Investor Relations portion of the Company's website at ir.forwardaircorp.com shortly after the call is completed. About Forward Air Corporation Forward Air is a leading asset-light provider of transportation services acro
Believes the Board Must Engage with Prospective Buyers Following a "Lost Decade" Defined by Overwhelmingly Negative TSR and Significant Underperformance Across 1-, 3-, 5- and 10-Year Periods Contends the Private Market is the Best Place for Forward Air to Fix Balance Sheet Issues, Improve Operations, and Serve Customers and Other Stakeholders Expects a Sale to Deliver Meaningful Premiums Relative to the Company's Current and Unaffected Share Prices, While Eliminating Further Risk for Long-Suffering Shareholders Ancora Holdings Group, LLC (collectively with its affiliates, "Ancora" or "we") today issued the below open letter to the Board of Directors (the "Board") of Forward Air Corpor
Positive momentum despite softness in freight market Continues to accelerate integration, synergy capture and cost elimination Forward Air Corporation (NASDAQ:FWRD) (the "Company", "we", "our", or "us") today reported financial results for the three months ended June 30, 2024, as presented in the tables below on a continuing operations basis, with the Company's former Final Mile business being reported as discontinued operations. Shawn Stewart, Forward's recently appointed Chief Executive Officer, said, "As a result of the Omni transaction, the combined company now has a unique platform to drive long-term growth through continued best in class domestic expedited and intermodal service
Forward Announces 2Q24 Earnings Call To Be Held August 7, 2024 Forward Air Corporation (NASDAQ:FWRD) ("Forward" or the "Company") will release its second quarter 2024 earnings after the market closes on Wednesday, August 7, 2024, and hold a conference call to discuss those results at 4:30 p.m. ET. The Company's conference call will be available online on the Investor Relations portion of the Company's website at ir.forwardaircorp.com or by dialing (800) 343-4136, Access Code: FWRDQ224. A conference call replay will be available on the Investor Relations portion of the Company's website at ir.forwardaircorp.com shortly after the call is completed. About Forward Air Corporation Forward
Consolidated EBITDA Increases from $300 Million to $324 Million Following Addition of Allowable Addbacks Forward Air Corporation (NASDAQ:FWRD) (the "Company", "Forward", "we", "our", or "us") today announced updates to certain previously released non-GAAP financial measures for the twelve months ended March 31, 2024, to include adjustments to the previously released non-GAAP financial measures. When Forward released first quarter 2024 earnings on May 8, 2024, the Company made available to investors a conference call presentation, page 19 of which set forth a calculation intended to provide visibility into the Company's calculation of "Consolidated EBITDA" under the Company's existing cr
Industry veteran Shawn Stewart appointed as Chief Executive Officer First quarter results impacted by elongated weak freight market and Omni Logistics deal closing Cost synergy realization in line with initial diligence estimates Preliminary April results providing early indication of improvement Forward Air Corporation (NASDAQ:FWRD) (the "Company", "Forward", "we", "our", or "us") today reported financial results for the three months ended March 31, 2024 as presented in the tables below on a continuing operations basis (Final Mile is being reported as a discontinued operations). Recently appointed Chief Executive Officer Shawn Stewart, said, "It is a privilege to be leading Forwa
Forward Air Corporation (NASDAQ:FWRD) ("Forward" or the "Company") today announced that Shawn Stewart has been named Chief Executive Officer and a Director of the Board, effective April 28, 2024. Michael Hance, who served as Interim CEO, will continue to serve as Chief Legal Officer and Secretary. Mr. Stewart is a seasoned executive with nearly three decades of experience in logistics and transportation. During his tenure at CEVA Logistics, a global end-to-end logistics company, Mr. Stewart held numerous leadership positions and most recently served as President and Managing Director, North America. In this role, Mr. Stewart spearheaded the growth and development of the region, overseeing
Less-than-Truckload Volume Trending Positive Executing Comprehensive Efforts to Integrate Omni Logistics Continued Strong Commitment to Delivering Exceptional Service to Customers Forward Air Corporation (NASDAQ:FWRD) (the "Company", "we", "our", or "us") today reported financial results for the three and twelve months ended December 31, 2023 as presented in the tables below on a continuing operations basis (Final Mile is being reported as a discontinued operation). Michael Hance, Interim Chief Executive Officer said, "Execution of our revenue growth strategies in the fourth quarter led to positive volume trends and improved freight quality metrics. While the softer freight conditio
Forward Air Corporation (NASDAQ:FWRD) will release its fourth quarter 2023 earnings after the market closes on Wednesday, February 21, 2024 and hold a conference call to discuss those results on the following day, Thursday, February 22, 2024 at 9:00 a.m. ET. The Company's conference call will be available online on the Investor Relations portion of the Company's website at ir.forwardaircorp.com, or by dialing (877) 336-4440, Access Code: 5236215. Since we use our Investor Relations website as a primary mechanism to communicate with our investors, investors are urged to monitor the Investor Relations portion of the Company's website to easily find or navigate to current and pertinent informa
Forward Air Corporation (NASDAQ:FWRD) (the "Company" or "Forward") hosted the third annual Drive for Hope Golf Tournament November 11-12 at Chateau Elan Winery & Resort in Braselton, GA. Through its charitable platform, Operation Forward Freedom, the Company raised $350,000 to benefit Hope For The Warriors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241122287807/en/Forward Air Raised $350,000 for Hope For The Warriors at the Drive For Hope Golf Tournament (Photo: Business Wire) Founded in 2006, Hope For The Warriors is a national nonprofit dedicated to restoring a foundation of stability, strength and community for post-9/11
Forward Air Corporation (NASDAQ:FWRD) (the "Company" or "Forward") today announced that Eric Brandt has joined the Company as Chief Commercial Officer to lead its strategic growth plan and business development efforts. Mr. Brandt brings a strong track record of driving profitable growth in the logistics space, holding leadership roles at Agility, Panalpina, Kraft Foods and most recently, CEVA Logistics, where he served as Executive Vice President of Business Development. He will lead the combined company's commercial strategy and accelerate its ongoing mission of sustainable long-term growth. Shawn Stewart, Chief Executive Officer, said, "Eric will be a key player in launching the combine
Forward Air Corporation (NASDAQ:FWRD) (the "Company") today issued the following statement: The Forward Air Board of Directors and management acknowledge and value the perspectives of the Company's shareholders. The Company has recently undergone a significant transformation, including substantially refreshing its Board and management team, and is focused on continuing to provide industry leading service and executing its strategic plan with a renewed sense of continuous improvement, transparency and accountability. The refreshed Board and management team are actively analyzing the business and strategy to ensure the Company pursues the best path forward to enhance shareholder value. Forw
Forward Air Corporation (NASDAQ:FWRD) (the "Company", "Forward", "we", "our", or "us") today announced that Jerome Lorrain has been appointed to Forward's Board of Directors (the "Board") effective October 1, 2024. Mr. Lorrain has over 30 years of experience serving in a variety of roles in the logistics and transportation industry. He previously served as Chief Operating Officer of CEVA Logistics, a global end-to-end logistics company, and currently serves as director of Log-Hub, a supply chain solution and optimization company, and as the executive chairman of FluentCargo, a routing solutions provider. Additionally, Mr. Lorrain formerly served as a director of SeaFrigo and as the chairma
Forward Air Selected as an Inbound Logistics Top 100 Third-Party Logistics Provider for 2024 Omni Logistics – Asia Recognized by Cirrus Logic for Long-Standing Partnership Erika Tolar Named to Top Women Leaders of Texas List Forward Air Corporation (NASDAQ:FWRD) ("Forward" or the "Company") announced a trifecta of achievements highlighting the company's leadership, operational expertise, and commitment to exceptional customer service. These accolades underscore Forward's position as an industry leader and its commitment to delivering premier service and exceptional value to its customers. For the fourth consecutive year, Forward Air has been recognized by Inbound Logistics magazine
Names Jamie Pierson as Permanent Chief Financial Officer and Welcomes New Chief Accounting Officer Forward Air Corporation (NASDAQ:FWRD) ("Forward" or the "Company") announced the appointment of Jamie G. Pierson as permanent Chief Financial Officer and James Faught as Chief Accounting Officer, effective July 3, 2024. Mr. Pierson was originally named interim Chief Financial Officer on May 20, 2024. Mr. Faught joins the Company from EVO Transportation where he served as CFO. Shawn Stewart, the CEO, emphasized the strategic significance of the new appointments, stating, "This expansion of our leadership team is instrumental in navigating the financial integration of Forward Air and Omni Lo
Forward Air Corporation (NASDAQ:FWRD) ("Forward" or the "Company") today announced the appointment of Jamie G. Pierson as interim Chief Financial Officer effective May 20, 2024. Mr. Pierson succeeds Rebecca Garbrick, who is departing the Company. Ms. Garbrick will remain with the Company to assist with the transition. "On behalf of the Board of Directors, I want to thank Rebecca for her commitment and significant contributions over the last several years. Since taking the CFO role in 2020, Rebecca has been a valuable member of our management team, and we wish her much success in her future endeavors," stated Shawn Stewart, CEO. He continued, "We are excited to have Jamie step in to lead,
Names 18-Year Company Veteran Interim CEO Appoints New Independent Chairman with Extensive Leadership Track Record Forms Integration Committee Chaired by Transportation Industry Leader Forward Air Corporation (NASDAQ:FWRD) ("Forward" or "the Company") today announced several updates to its senior management team and Board of Directors ("the Board"). Management Changes Tom Schmitt, Chairman, Chief Executive Officer and President of Forward, has departed the Company. Effective immediately, Michael Hance has been appointed Interim Chief Executive Officer in addition to his current position as Chief Legal Officer and Secretary. Since joining Forward in 2006, Mr. Hance has served in
Acquisition of Forward Air Final Mile ("FAFM") enhances end-to-end solutions for Hub Group's customers and adds significant scale and service capability in appliance delivery and installation. Transaction Highlights Increases Hub Group's LTM Final Mile revenue from $192m to $481mDrives continued diversification into non-asset based logistics services; pro forma LTM Logistics revenue now represents 44% of total Hub revenueAdds new capabilities in appliance delivery and installation and increases company operated terminal footprintImmediately accretive to Hub Group's 2024 GAAP and cash EPS prior to expected cross-sell and operational synergiesMeaningful cross-sell and operational synergies f
GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) (the “Company” or “Forward”) today confirmed that Ancora Advisors (“Ancora”) has submitted a nomination notice for four candidates to stand for election to the Forward Air Board of Directors (the “Board”) at the Company’s 2021 Annual Meeting of Shareholders. Shareholders are not required to take any action at this time. The Company issued the following statement: Forward benefits from a strong and experienced Board that provides close oversight and guidance on the execution of the Company’s strategy. The Board – composed of 10 highly qualified directors, nine of whom are independent – brings significant exp