Added to YB: 2026-04-21
Pitch date: 2026-04-17
FWRD [bullish]
Forward Air Corporation
+4.19%
current return
Author Info
Company Info
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States, Mexico, Europe, Asia, and Canada.
Market Cap
$699.9M
Pitch Price
$22.18
Price Target
80.00 (+246%)
Dividend
N/A
EV/EBITDA
3.46
P/E
-6.32
EV/Sales
1.12
Sector
Air Freight and Logistics
Category
turnaround
Fallen Angels Part III & Small Stocks, Big Trucks Part II: Forward Air $FWRD
FWRD: Trucking super-cycle play w/ LTL specialty (quality leader, lowest loss ratio). TTM EBITDA $300M, strong year $400M vs $180M interest on $1.77B debt from Omni acquisition. Trading 1.0x EV/Sales vs historic 2.5x. FCF positive even in 2025 trough. Data center buildout = 7% freight market, housing thaw ahead. Base case $32 by end 2027, bull $80 on debt paydown, op leverage, multiple re-rating.
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