Con-way Director Sells $153,120 in Stock (CNW)
Con-way (NYSE:CNW) Director W Keith Kennedy, Jr. unloaded 3,000 shares of Con-way stock on the open market in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $51.04, for a total transaction of $153,120.00. Following the sale, the director now directly owns 24,247 shares of the company’s stock, valued at approximately $1,237,567. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Con-way (NYSE:CNW) traded down 0.33% during mid-day trading on Thursday, hitting $50.76. The stock had a trading volume of 95,963 shares. Con-way has a 52-week low of $36.34 and a 52-week high of $52.00. The stock’s 50-day moving average is $49. and its 200-day moving average is $44.42. The company has a market cap of $2.919 billion and a price-to-earnings ratio of 26.92.
Con-way (NYSE:CNW) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.91 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.67 earnings per share. Con-way’s revenue was up 8.0% compared to the same quarter last year. Analysts expect that Con-way will post $2.37 EPS for the current fiscal year.
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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock 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.