Con-way SVP Sells 4,062 Shares (CNW)
Con-way (NYSE:CNW) SVP Kevin S. Coel sold 4,062 shares of the stock on the open market in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $51.65, for a total transaction of $209,802.30. Following the completion of the sale, the senior vice president now directly owns 24,303 shares of the company’s stock, valued at approximately $1,255,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $51.69.
Shares of Con-way (NYSE:CNW) traded down 0.31% on Thursday, hitting $50.77. 77,412 shares of the company’s stock traded hands. Con-way has a 52 week low of $36.34 and a 52 week high of $52.00. The stock has a 50-day moving average of $49. and a 200-day moving average of $44.42. The company has a market cap of $2.920 billion and a P/E ratio of 26.92.
Con-way (NYSE:CNW) last announced its earnings results 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. 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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