Con-way SVP Sells $96,500 in Stock (CNW)
Con-way (NYSE:CNW) SVP Leslie P. Lundberg sold 2,000 shares of Con-way stock on the open market in a transaction dated Friday, June 13th. The stock was sold at an average price of $48.25, for a total value of $96,500.00. Following the transaction, the senior vice president now directly owns 36,290 shares of the company’s stock, valued at approximately $1,750,993. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on CNW shares. Analysts at Wunderlich upgraded shares of Con-way from a “hold” rating to a “buy” rating in a research note on Friday. They now have a $57.00 price target on the stock, up previously from $44.00. Separately, 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Con-way currently has a consensus rating of “Buy” and an average price target of $46.38.
Shares of Con-way (NYSE:CNW) traded down 0.21% on Tuesday, hitting $47.70. 559,615 shares of the company’s stock traded hands. Con-way has a 52-week low of $36.34 and a 52-week high of $48.66. The stock has a 50-day moving average of $45.49 and a 200-day moving average of $41.3. The company has a market cap of $2.721 billion and a P/E ratio of 28.17.
Con-way (NYSE:CNW) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ 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. Analysts expect that Con-way will post $2.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders of record on Friday, August 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.84%.
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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