Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
Trade-Ideas LLC identified
) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Forward Air as such a stock due to the following factors:
- FWRD has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $16.0 million.
- FWRD has traded 1,422 shares today.
- FWRD is trading at a new lifetime high.
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More details on FWRD:
Forward Air Corporation, together with its subsidiaries, provides surface transportation and related logistics services in North America. The company operates in three segments: Forward Air, Inc. (Forward Air), Forward Air Solutions, Inc. (FASI), and Total Quality, Inc. (TQI). The stock currently has a dividend yield of 0.9%. FWRD has a PE ratio of 26.9. Currently there are 2 analysts that rate Forward Air a buy, 1 analyst rates it a sell, and 7 rate it a hold.
The average volume for Forward Air has been 146,900 shares per day over the past 30 days. Forward Air has a market cap of $1.6 billion and is part of the services sector and transportation industry. Shares are up 6.8% year-to-date as of the close of trading on Wednesday.
rates Forward Air as a
. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow.
Highlights from the ratings report include:
- The revenue growth came in higher than the industry average of 4.3%. Since the same quarter one year prior, revenues rose by 18.2%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
- FWRD's debt-to-equity ratio is very low at 0.00 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with this, the company maintains a quick ratio of 3.15, which clearly demonstrates the ability to cover short-term cash needs.
- The stock has risen over the past year as investors have generally rewarded the company for its earnings growth and other positive factors like the ones we have cited in this report. Looking ahead, unless broad bear market conditions prevail, we still see more upside potential for this stock, despite the fact that it has already risen over the past year.
- FORWARD AIR CORP has improved earnings per share by 10.0% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, FORWARD AIR CORP increased its bottom line by earning $1.97 versus $1.77 in the prior year. This year, the market expects an improvement in earnings ($2.40 versus $1.97).
- The net income growth from the same quarter one year ago has significantly exceeded that of the Air Freight & Logistics industry average, but is less than that of the S&P 500. The net income increased by 9.4% when compared to the same quarter one year prior, going from $15.59 million to $17.05 million.
- You can view the full Forward Air Ratings Report.