Deutsche Bank AG Acquires New Shares in Forward Air Corporation $FWRD

Key Points

• Deutsche Bank acquired 613,841 shares of Forward Air in the second quarter, valued at approximately $8.3 million and representing a 1.94% stake.
• Institutional ownership remains high at 97.03%, with several firms—including Dimensional Fund Advisors, Royce & Associates, and Melqart Asset Management—also increasing their positions.
• Analyst sentiment is mixed but leans positive: Forward Air has an average “Moderate Buy” rating and a $28 price target, while shares recently opened at $18.11.

Deutsche Bank AG bought a new stake in Forward Air Corporation (NASDAQ:FWRD - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 613,841 shares of the transportation company's stock, valued at approximately $8,293,000. Deutsche Bank AG owned 1.94% of Forward Air at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new stake in shares of Forward Air in the 1st quarter valued at approximately $3,535,000. Dimensional Fund Advisors LP grew its holdings in Forward Air by 108.7% during the first quarter. Dimensional Fund Advisors LP now owns 318,858 shares of the transportation company's stock valued at $5,328,000 after purchasing an additional 166,084 shares during the period. Royce & Associates LP increased its stake in Forward Air by 60.7% in the fourth quarter. Royce & Associates LP now owns 281,553 shares of the transportation company's stock valued at $7,039,000 after purchasing an additional 106,364 shares in the last quarter. Melqart Asset Management UK Ltd increased its stake in Forward Air by 122.3% in the fourth quarter. Melqart Asset Management UK Ltd now owns 849,876 shares of the transportation company's stock valued at $21,247,000 after purchasing an additional 467,482 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Forward Air by 26.9% in the second quarter. BNP Paribas Financial Markets now owns 286,843 shares of the transportation company's stock valued at $7,039,000 after purchasing an additional 60,732 shares in the last quarter. Institutional investors own 97.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FWRD shares. Weiss Ratings cut shares of Forward Air from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday. Stifel Nicolaus upped their price objective on shares of Forward Air from $19.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Susquehanna raised their price objective on Forward Air from $18.00 to $29.00 and gave the stock a "positive" rating in a research note on Thursday, August 13th. Zacks Research upgraded Forward Air from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Finally, Wall Street Zen raised Forward Air from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.00.

Forward Air Stock Performance

Shares of NASDAQ:FWRD opened at $18.11 on Monday. Forward Air Corporation has a 12 month low of $7.86 and a 12 month high of $32.00. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 13.98. The company's fifty day simple moving average is $15.13 and its 200 day simple moving average is $17.27. The firm has a market cap of $572.64 million, a price-to-earnings ratio of -2.03 and a beta of 1.36.

Forward Air Company Profile

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.

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