Con-way EVP Sells $441,338 in Stock (CNW)
Con-way (NYSE:CNW) EVP Robert Leo Bianco, Jr. unloaded 8,630 shares of Con-way stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $51.14, for a total value of $441,338.20. Following the sale, the executive vice president now directly owns 57,013 shares of the company’s stock, valued at approximately $2,915,645. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Con-way (NYSE:CNW) traded down 1.05% during mid-day trading on Wednesday, hitting $50.93. 579,273 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 $2.929 billion and a P/E ratio of 27.20.
Con-way (NYSE:CNW) last posted its quarterly earnings results 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 quarterly revenue was up 8.0% on a year-over-year basis. Analysts expect that Con-way will post $2.37 EPS for the current fiscal year.
A number of research firms have recently commented on CNW. 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’s stock. The company presently has an average rating of “Buy” and an average 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.