Insider Selling: Con-way EVP Sells 7,799 Shares of Stock (CNW)
Con-way (NYSE:CNW) EVP Joseph M. Dagnese unloaded 7,799 shares of the company’s stock on the open market in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $48.66, for a total transaction of $379,499.34. Following the transaction, the executive vice president now directly owns 17,375 shares in the company, valued at approximately $845,468. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on CNW. Analysts at Wunderlich upgraded shares of Con-way from a “hold” rating to a “buy” rating in a research note on Friday, June 13th. 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $46.38.
Shares of Con-way (NYSE:CNW) traded up 1.39% on Friday, hitting $50.46. The stock had a trading volume of 1,797,080 shares. Con-way has a 52 week low of $36.34 and a 52 week high of $50.57. The stock’s 50-day moving average is $46.9 and its 200-day moving average is $41.82. The company has a market cap of $2.879 billion and a P/E ratio of 29.33.
Con-way (NYSE:CNW) last released its earnings data on Wednesday, April 30th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters 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 $2.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Friday, August 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Wednesday, August 13th.
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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