Robert W. Baird Increases Con-way Price Target to $54.00 (CNW)
Analysts at Robert W. Baird raised their price objective on shares of Con-way (NYSE:CNW) from $48.00 to $54.00 in a research report issued to clients and investors on Tuesday. Robert W. Baird’s price target suggests a potential upside of 7.16% from the company’s current price.
In other Con-way news, Director W Keith Kennedy, Jr. sold 3,000 shares of Con-way stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $50.80, for a total value of $152,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on CNW. Analysts at Deutsche Bank raised their price target on shares of Con-way from $43.00 to $45.00 in a research note on Monday. They now have a “hold” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Con-way from $48.00 to $53.00 in a research note on Wednesday, July 2nd. Finally, 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Con-way has an average rating of “Buy” and a consensus price target of $48.38.
Shares of Con-way (NYSE:CNW) traded down 0.79% on Tuesday, hitting $50.39. 701,554 shares of the company’s stock traded hands. Con-way has a 1-year low of $36.34 and a 1-year high of $50.98. The stock’s 50-day moving average is $47.93 and its 200-day moving average is $42.3. The company has a market cap of $2.875 billion and a price-to-earnings ratio of 29.93.
Con-way (NYSE:CNW) last released its earnings data 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 $2.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Investors 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 0.79%. The ex-dividend date of this dividend 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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