Con-way Hits New 12-Month High at $52.00 (CNW)
Con-way (NYSE:CNW) hit a new 52-week high during mid-day trading on Tuesday , Stock Ratings News reports. The company traded as high as $52.00 and last traded at $51.74, with a volume of 281,166 shares trading hands. The stock had previously closed at $51.25.
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 analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Con-way currently has a consensus rating of “Buy” and a consensus price target of $51.69.
The stock has a 50-day moving average of $49.83 and a 200-day moving average of $45.04. The company has a market cap of $2.988 billion and a P/E ratio of 27.09.
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. On average, analysts predict that Con-way will post $2.37 earnings per share for the current fiscal year.
In other Con-way news, Director Edith R. Perez unloaded 1,475 shares of Con-way stock on the open market in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $51.31, for a total transaction of $75,682.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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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