Con-way Hits New 52-Week High at $51.07 (CNW)
Con-way (NYSE:CNW) shares reached a new 52-week high during mid-day trading on Thursday , American Banking News reports. The company traded as high as $51.07 and last traded at $51.00, with a volume of 354,174 shares changing hands. The stock had previously closed at $50.65.
Several analysts have recently commented on the stock. 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $51.69.
The stock’s 50-day moving average is $49.49 and its 200-day moving average is $43.97. The company has a market cap of $2.933 billion and a P/E ratio of 26.77.
Con-way (NYSE:CNW) last announced its 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 quarterly revenue 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.
In other Con-way news, SVP Leslie P. Lundberg sold 1,000 shares of Con-way stock on the open market in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $50.52, for a total transaction of $50,520.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
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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