Con-Way Downgraded by UBS AG to Underperform (CNW)
Con-Way (NYSE:CNW) was downgraded by research analysts at UBS AG from a “sell” rating to an “underperform” rating in a report released on Monday, AnalystRatingsNetwork reports. They currently have a $36.00 price target on the stock. UBS AG’s target price indicates a potential downside of 7.43% from the company’s current price. The analysts noted that the move was a valuation call.
Shares of Con-Way (NYSE:CNW) traded down 3.27% on Monday, hitting $37.62. 1,018,318 shares of the company’s stock traded hands. Con-Way has a 52-week low of $28.96 and a 52-week high of $46.52. The stock has a 50-day moving average of $40.29 and a 200-day moving average of $41.88. The company has a market cap of $2.140 billion and a P/E ratio of 22.31.
Con-Way (NYSE:CNW) last released its earnings data on Wednesday, October 30th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.62 by $0.04. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts predict that Con-Way will post $1.83 earnings per share for the current fiscal year.
In other Con-Way news, Director W Keith Kennedy, Jr. sold 3,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.33, for a total transaction of $117,990.00. Following the completion of the sale, the director now directly owns 30,999 shares in the company, valued at approximately $1,219,191. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of other firms have also recently commented on CNW. Analysts at Bank of America Corp. downgraded shares of Con-Way from a “buy” rating to an “underperform” rating in a research note to investors on Monday. Separately, analysts at Deutsche Bank downgraded shares of Con-Way from a “buy” rating to a “hold” rating in a research note to investors on Monday, December 16th. They now have a $45.00 price target on the stock, down previously from $46.00. Finally, analysts at Zacks downgraded shares of Con-Way from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, November 5th. They now have a $39.70 price target on the stock. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Con-Way currently has a consensus rating of “Hold” and an average target price of $41.88.
Con-way Inc and its subsidiaries (NYSE:CNW) provides transportation, logistics and supply-chain management services for a range of manufacturing, industrial and retail customers.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.