Cibc World Market Inc. Invests $14.48 Million in Forward Air Corporation $FWRD

Cibc World Market Inc. purchased a new stake in Forward Air Corporation (NASDAQ:FWRD) in the 2nd quarter, Holdings Channel reports. The firm purchased 1,072,138 shares of the transportation company’s stock, valued at approximately $14,485,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Forward Air during the 2nd quarter worth $37,485,000. Deutsche Bank AG bought a new position in Forward Air during the second quarter worth about $8,293,000. Melqart Asset Management UK Ltd grew 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 acquiring an additional 467,482 shares during the period. Royal Bank of Canada grew its stake in Forward Air by 1,179.7% in the first quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company’s stock valued at $6,451,000 after acquiring an additional 296,001 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new position in Forward Air in the second quarter valued at about $2,987,000. Institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

FWRD has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price target on Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Zacks Research upgraded Forward Air from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Susquehanna increased their target price on Forward Air from $18.00 to $29.00 and gave the stock a “positive” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings downgraded shares of Forward Air from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Forward Air currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Forward Air Price Performance

FWRD stock opened at $17.57 on Tuesday. The stock has a 50-day moving average price of $15.21 and a two-hundred day moving average price of $17.19. Forward Air Corporation has a 1 year low of $7.86 and a 1 year high of $32.00. The stock has a market cap of $555.56 million, a PE ratio of -1.97 and a beta of 1.36. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 13.98.

About Forward Air

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.