Insider Selling: Con-way VP Sells 2,000 Shares of Stock (CNW)
Con-way (NYSE:CNW) VP Charles R. Mullett sold 2,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $51.66, for a total value of $103,320.00. Following the sale, the vice president now directly owns 17,916 shares in the company, valued at approximately $925,541. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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. The company presently has a consensus rating of “Buy” and an average price target of $51.69.
Shares of Con-way (NYSE:CNW) traded down 0.81% on Tuesday, hitting $51.47. 563,984 shares of the company’s stock traded hands. Con-way has a 1-year low of $36.34 and a 1-year high of $52.00. The stock’s 50-day moving average is $49.62 and its 200-day moving average is $44.3. The company has a market cap of $2.960 billion and a P/E ratio of 27.43.
Con-way (NYSE:CNW) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters 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 prior 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.
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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