Deutsche Bank AG Sells 83,624 Shares of Forward Air Co. (NASDAQ:FWRD)

Deutsche Bank AG trimmed its holdings in Forward Air Co. (NASDAQ:FWRD - Free Report) by 75.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,786 shares of the transportation company's stock after selling 83,624 shares during the period. Deutsche Bank AG owned 0.09% of Forward Air worth $864,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new stake in shares of Forward Air during the 4th quarter worth about $815,000. Principal Financial Group Inc. raised its holdings in Forward Air by 7.3% in the fourth quarter. Principal Financial Group Inc. now owns 97,148 shares of the transportation company's stock valued at $3,133,000 after buying an additional 6,629 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Forward Air by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock valued at $24,376,000 after buying an additional 79,960 shares during the period. Raymond James Financial Inc. purchased a new position in Forward Air in the fourth quarter valued at approximately $320,000. Finally, Wells Fargo & Company MN raised its holdings in Forward Air by 10.2% in the fourth quarter. Wells Fargo & Company MN now owns 30,042 shares of the transportation company's stock valued at $969,000 after buying an additional 2,773 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FWRD has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their price target on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Robert W. Baird cut their price objective on Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, Susquehanna cut their price objective on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Forward Air currently has a consensus rating of "Hold" and a consensus price target of $32.25.

Forward Air Stock Performance

Shares of FWRD traded down $0.53 during mid-day trading on Friday, hitting $16.52. The company's stock had a trading volume of 473,760 shares, compared to its average volume of 785,450. Forward Air Co. has a one year low of $9.79 and a one year high of $40.92. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market capitalization of $502.59 million, a PE ratio of -0.69 and a beta of 1.24. The stock's 50-day moving average is $16.39 and its two-hundred day moving average is $25.36.

Forward Air Company Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.