Con-Way Downgraded to Underperform at Bank of America Corp. (CNW)
Con-Way (NYSE:CNW) was downgraded by analysts at Bank of America Corp. from a “buy” rating to an “underperform” rating in a research report issued to clients and investors on Monday, Analyst Ratings.Net reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG initiated coverage on shares of Con-Way in a research note to investors on Monday, December 16th. They set a “hold” rating and a $45.00 price target on the stock. 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Con-Way currently has a consensus rating of “Hold” and an average target price of $42.70.
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 dated Thursday, January 2nd. The stock was sold at an average price of $39.33, for a total value of $117,990.00. Following the completion of the transaction, the director now directly owns 30,999 shares of the company’s stock, valued at approximately $1,219,191. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Con-Way (NYSE:CNW) traded down 3.41% during mid-day trading on Monday, hitting $37.565. 822,132 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’s 50-day moving average is $40.29 and its 200-day moving average is $41.88. The company has a market cap of $2.137 billion and a price-to-earnings ratio of 22.31.
Con-Way (NYSE:CNW) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.58 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.45 earnings per share. Con-Way’s revenue was down .4% compared to the same quarter last year. On average, analysts predict that Con-Way will post $1.83 earnings per share for the current fiscal year.
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.
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