NEW YORK (

TheStreet

) --

Forward Air Corporation

(Nasdaq:

FWRD

) hit a new 52-week high Wednesday as it is currently trading at $35.56, above its previous 52-week high of $35.53 with 36,871 shares traded as of 1:04 p.m. ET. Average volume has been 186,400 shares over the past 30 days.

Forward Air has a market cap of $1 billion and is part of the

services

sector and

transportation

industry. Shares are up 22.3% year to date as of the close of trading on Tuesday.

Forward Air Corporation provides surface transportation and related logistics services to the North American deferred air freight market. The company operates in two segments, Forward Air, Inc. (Forward Air) and Forward Air Solutions, Inc. (FASI). The company has a P/E ratio of 27.6, above the average transportation industry P/E ratio of 27.3 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Forward Air as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full

Forward Air Ratings Report

.

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