Forward Air Corporation (FWRD) Stock Price & Analysis
Forward Air Corporation (FWRD) closed at USD 15.62 on Thursday, October 22, 2026, down 0.89% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 15.76; the Oct 22, 2026 session ranged USD 15.61–15.97 on volume of 235,760 shares. Market capitalization is $527.66M, with a 52-week range of USD 7.86–31.18 (NMS). Source: Nexqual, retrieved October 23, 2026 at 10:11 UTC.
Also available as compact Markdown for AI agents: nexqual.com/FWRD.md
Key facts (FWRD)
- Analysts: Hold (mean 2.60 on a 1–5 scale) (5 analysts), mean target USD 24.5 (range 24–25).
- Total return with dividends: 1Y -17.6% vs S&P 500 +14.9%; 5Y -82.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-09, EPS estimate USD 0.13, revenue estimate $673M.
Analysts (FWRD)
Consensus Hold (mean 2.60 on a 1–5 scale), 5 analysts; mean target USD 24.5 (low 24, high 25).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-08 | Stifel | Target lowered | Buy | $27 → $24 |
| 2026-10-02 | Susquehanna | Target lowered | Positive | $29 → $25 |
| 2026-08-13 | Susquehanna | Target raised | Positive | $18 → $29 |
| 2026-08-06 | Stifel | Target raised | Buy | $19 → $27 |
Total return (dividends reinvested) (FWRD)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -17.6% | -82.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -17.7% | -29.3% |
| Volatility (annualized) | 92.0% | 73.2% |
| Max drawdown | -72.5% (Feb 2026→May 2026) | -92.6% (Dec 2021→May 2026) |
FWRD analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.13 | $-0.10 | -225.0% | $673.4M | 2 |
| Next quarter (ends Dec 2026) | $0.03 | $-0.14 | -118.1% | $655.2M | 2 |
| Current fiscal year (ends Dec 2026) | $-1.01 | $-0.83 | +21.9% | $2.58B | 2 |
| Next fiscal year (ends Dec 2027) | $0.43 | $-0.25 | -269.7% | $2.60B | 2 |
FWRD options: expected move
Options price a move of about ±23.7% (±$3.70) by Nov 20, 2026, which includes earnings on Nov 9, 2026.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 106.6% | ±23.7% |
| Dec 18, 2026 | 56 | 88.3% | ±27.4% |
| Jan 15, 2027 | 84 | 76.3% | ±28.6% |
| Mar 19, 2027 | 147 | 78.5% | ±38.4% |
| Jun 17, 2027 | 237 | 79.5% | ±48.8% |
30-day implied volatility 77.3% vs 45.1% realized over the last 30 trading days. Put/call ratio (volume) 0.63. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 10:11 UTC)
| Price | USD 15.62 |
|---|---|
| Change | ▼ 0.89% (down) |
| Previous Close | USD 15.76 |
| Open | USD 15.62 |
| Day Range | USD 15.61 – 15.97 |
| 52-Week Range | USD 7.86 – 31.18 |
| Volume | 235,760 shares |
| Market Cap | $527.66M |
| Exchange | NMS |
Technical Analysis (FWRD)
Nexqual's technical model rates FWRD "NEUTRAL" based on 2 bullish and 3 bearish signals across 127 daily candles, as of October 23, 2026 at 10:11 UTC.
| Overall Signal | NEUTRAL |
|---|---|
| RSI (14) | 45.27 (neutral) |
| vs SMA50 | Below (USD 16.34) |
| MACD | -0.1 (negative) |
Analyst Ratings (FWRD)
Wall Street analysts rate FWRD "Hold" based on 5 analysts, with a mean price target of USD 24.5 (range USD 24–25), per Nexqual as of October 23, 2026 at 10:11 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 5 |
| Mean Target | USD 24.5 |
| High Target | USD 25 |
| Low Target | USD 24 |
| Buy / Hold / Sell | 2 / 3 / 0 |
Earnings (FWRD)
| Next Earnings Date | 2026-11-09 |
|---|---|
| EPS Estimate | USD 0.13 |
| Revenue Estimate | $673.40M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 1.53 vs est -0.15 ▲ beat |
| 2026-03-31 | USD -0.2 vs est -0.37 ▲ beat |
| 2025-12-31 | USD -0.19 vs est -0.27 ▲ beat |
| 2025-09-30 | USD 0.07 vs est -0.12 ▲ beat |
Source: Nexqual, October 23, 2026 at 10:11 UTC.
Financials & Fundamentals (FWRD)
| Total Revenue | $2.52B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +8.80% |
| Gross Margin | +21.49% |
| Operating Margin | +6.34% |
| Profit Margin | -11.37% |
| ROE | -735.72% |
| Current Ratio | 1.32 |
| Total Cash | $139.45M |
| Total Debt | $2.11B |
| Free Cash Flow (fiscal year ended Dec 2019, SEC 10-K) | $137.01M (11.3% of revenue) |
Source: Nexqual, October 23, 2026 at 10:11 UTC.
Financial Health Score (FWRD)
Nexqual rates Forward Air Corporation's overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 10:11 UTC.
| Growth | Mixed — Revenue +0.8% YoY (annual), slow |
|---|---|
| Profitability | Mixed — Gross margin 21%, operating 6% (last 12 months) |
| Balance Sheet | Mixed — $139M cash vs $2.11B debt |
| Cash Flow | Solid — FCF $137M (FY ended Dec 2019, 10-K), 11% margin |
| Efficiency | Critical — ROE -736%, ROA 3.1% |
Ownership (FWRD)
| Insider Ownership | +1.86% |
|---|---|
| Institutional Ownership | +97.50% |
| Shares Outstanding | 33.78M |
| Float | 27.31M |
| Short % of Float | +9.45% |
Source: Nexqual, October 23, 2026 at 10:11 UTC.
Leadership (FWRD)
Forward Air Corporation is led by Shawn Stewart, President, CEO & Director, per Nexqual as of October 23, 2026 at 10:11 UTC.
| President, CEO & Director | Shawn Stewart |
|---|---|
| Chief Financial Officer | Jamie G. Pierson |
| Senior Vice President of Treasury & Investor Relations | Anthony Carreno |
| President of Latin America (LATAM) | Fábio Mendunekas |
Major Backers & Investors (FWRD)
Notable institutional backers of Forward Air Corporation include Clearlake Capital Group, LP, Fidelity, FMR, LLC, according to Nexqual as of October 23, 2026 at 10:11 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Clearlake Capital Group, LP | 12.09% |
| Fidelity | 6.39% |
| FMR, LLC | 6.35% |
| Bracebridge Capital, LLC | 4.44% |
| Private Management Group, Inc. | 3.62% |
| CIBC World Market, Inc. | 3.39% |
| Shaw D.E. & Co., Inc. | 3.16% |
| HRT Financial LP | 2.49% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 8.77% |
| Vanguard Group | 3.7% |
Source: Nexqual, October 23, 2026 at 10:11 UTC.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| RLGT | Radiant Logistics, Inc. | USD 8.7 | ▼ 0.8% |
| CYRX | CryoPort, Inc. | USD 17.83 | ▼ 3.78% |
| HUBG | Hub Group, Inc. | USD 26.47 | ▲ 1.61% |
| PBI | Pitney Bowes Inc. | USD 17.54 | ▲ 0.8% |
| GXO | GXO Logistics, Inc. | USD 48.91 | ▲ 0.99% |
| LSTR | Landstar System, Inc. | USD 169.39 | ▼ 1.1% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:11 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt