UPDATE: Dahlman Rose Downgrades Forward Air

According to a research report published this morning, Dahlman Rose has downgraded Forward Air

from Buy to Hold. In the report, Dahlman Rose commented, "We are downgrading our investment opinion to Hold from Buy due to pricing pressures and near-term cost headwinds. Our downgrade follows a solid earnings report that saw Forward Air report 30% earnings growth to $0.35, modestly beating our and the consensus estimate of $0.34. Operating income grew 26% to $16.8 MM, ahead of our and consensus estimates of $16.5 MM and $15.8 MM, respectively." Forward Air closed Friday at $35.03.