Added to YB: 2026-06-11
Pitch date: 2026-06-09
FWRD [neutral]
Forward Air Corporation
+6.52%
current return
Author Info
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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
$367.8M
Pitch Price
$11.50
Price Target
N/A
Dividend
N/A
EV/EBITDA
2.97
P/E
-3.95
EV/Sales
0.98
Sector
Air Freight and Logistics
Category
special_situation
$FWRD: the auction came back empty, so now it's a sale for parts
FWRD (overview): Levered LTL stub post-failed 18mo sale; stock -43% on no whole-co bid. ~$10/share, $320M cap, debt-dominated EV. Pivoting to piecemeal sales (Intermodal + Omni pieces, ~$394M '25 rev). ~$250M customer (10%) may exit early '27. PTs cut to $17-18. June 17 mtg key catalyst; risk: debt eats equity if asset sales light.
Read full article (3 min)