1995 ford escort lx wagon temperature sensor replaced fan also replaced still runs hot could the thermostat be bad?

Yes the thermostat could be bad. This is one of the first things you should change when a vehicle gets hot. Thermostat replacement should be a maintainance issue. Should be changes at least every 3 years or 50000 miles. Thermostats can gum up and stick. You also need to look at replacing your water pump. The pump fins sometimes go bad.