Ashleigh Rogers
Long/short equity, growth at reasonable price, value, banks

Weakness In Air Freight Markets Make Forward Air Questionable

After optimism began to percolate late last year regarding prospects for economic growth in 2014, Forward Air (NASDAQ:FWRD) shares took off rising from below $38 to nearly $45 per share recently. I believe this optimism may be premature as the air freight market is still lackluster, and FWRD faces company specific challenges. In particular, the company is likely to see lackluster revenue and EPS growth due in part to its exposure to the retail segment. With the stock trading at more than 20X CY 2014 EPS, FWRD is hardly cheap enough to overcome these concerns currently. Especially in light of recent concerns over the retail environment and Chinese manufacturing performance, investors don't need to rush into FWRD at...

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