Insider Selling: Con-way CFO Sells 22,466 Shares of Stock (CNW)
Con-way (NYSE:CNW) CFO Stephen L. Bruffett sold 22,466 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $48.04, for a total transaction of $1,079,266.64. Following the sale, the chief financial officer now directly owns 76,658 shares of the company’s stock, valued at approximately $3,682,650. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Con-way (NYSE:CNW) traded down 0.68% on Tuesday, hitting $48.02. The stock had a trading volume of 225,488 shares. Con-way has a one year low of $36.34 and a one year high of $48.58. The stock’s 50-day moving average is $44.6 and its 200-day moving average is $41.05. The company has a market cap of $2.740 billion and a P/E ratio of 28.49.
Con-way (NYSE:CNW) last released its earnings data on Wednesday, April 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. On average, analysts predict that Con-way will post $2.14 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CNW shares. Analysts at Zacks upgraded shares of Con-way from an “underperform” rating to a “neutral” rating in a research note on Monday, May 5th. They now have a $45.00 price target on the stock. Separately, analysts at Wunderlich raised their price target on shares of Con-way from $40.00 to $44.00 in a research note on Friday, May 2nd. They now have a “hold” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Con-way in a research note on Thursday, May 1st. They now have a $48.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $44.75.
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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