Insider Selling: Con-way SVP Sells 8,000 Shares of Stock (CNW)
Con-way (NYSE:CNW) SVP Leslie P. Lundberg unloaded 8,000 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $49.65, for a total transaction of $397,200.00. Following the transaction, the senior vice president now directly owns 36,290 shares of the company’s stock, valued at approximately $1,801,799. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on CNW shares. Analysts at Deutsche Bank raised their price target on shares of Con-way from $45.00 to $47.00 in a research note on Friday, August 1st. Separately, analysts at Zacks upgraded shares of Con-way from a “neutral” rating to an “outperform” rating in a research note on Friday, August 1st. They now have a $52.20 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Con-way in a research note on Thursday, July 31st. They now have a $55.00 price target on the stock, up previously from $52.00. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Con-way has a consensus rating of “Buy” and an average price target of $51.69.
Shares of Con-way (NYSE:CNW) traded up 0.24% during mid-day trading on Tuesday, hitting $50.34. The stock had a trading volume of 565,849 shares. Con-way has a 52 week low of $36.34 and a 52 week high of $50.98. The stock’s 50-day moving average is $49.40 and its 200-day moving average is $43.83. The company has a market cap of $2.895 billion and a P/E ratio of 26.54.
Con-way (NYSE:CNW) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.16. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts expect that Con-way will post $2.38 EPS for the current fiscal year.
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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