Con-Way Rating Lowered to Underperform at Merrill Lynch (CNW)
Con-Way (NYSE:CNW) was downgraded by equities researchers at Merrill Lynch to an “underperform” rating in a research report issued on Monday, AnalystRatingsNetwork.com reports.
Several other analysts have also recently commented on the stock. Analysts at UBS AG downgraded shares of Con-Way from a “sell” rating to an “underperform” rating in a research note to investors on Monday. They now have a $36.00 price target on the stock. They noted that the move was a valuation call. Separately, 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. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $41.88.
Shares of Con-Way (NYSE:CNW) traded down 1.54% during mid-day trading on Monday, hitting $38.29. 2,049,344 shares of the company’s stock traded hands. Con-Way has a one year low of $28.96 and a one year 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 $2.178 billion and a price-to-earnings ratio of 22.31.
Con-Way (NYSE:CNW) last released its 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. Analysts expect that Con-Way will post $1.83 EPS for the current fiscal year.
In other Con-Way news, Director W Keith Kennedy, Jr. sold 3,000 shares of the company’s stock 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 sale, the director now directly owns 30,999 shares of the company’s stock, valued at approximately $1,219,191. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
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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