Con-way EVP Sells $3,685,599 in Stock (CNW)
Con-way (NYSE:CNW) EVP Robert Leo Bianco, Jr. unloaded 72,295 shares of Con-way stock on the open market in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $50.98, for a total transaction of $3,685,599.10. Following the sale, the executive vice president now directly owns 57,013 shares in the company, valued at approximately $2,906,523. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Con-way (NYSE:CNW) traded up 2.81% on Monday, hitting $51.89. 830,172 shares of the company’s stock traded hands. Con-way has a 52 week low of $36.34 and a 52 week high of $51.18. The stock’s 50-day moving average is $49.55 and its 200-day moving average is $44.11. The company has a market cap of $2.984 billion and a P/E ratio of 26.68.
Con-way (NYSE:CNW) last released its earnings data 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. On average, analysts predict that Con-way will post $2.37 earnings per share for the current fiscal year.
CNW has been the subject of a number of recent research reports. 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $51.69.
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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