Insider Selling: Con-way EVP Unloads 13,619 Shares of Stock (CNW)
Con-way (NYSE:CNW) EVP Robert Leo Bianco, Jr. unloaded 13,619 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $52.00, for a total transaction of $708,188.00. Following the transaction, the executive vice president now directly owns 57,013 shares of the company’s stock, valued at approximately $2,964,676. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $51.69.
Shares of Con-way (NYSE:CNW) traded up 0.38% during mid-day trading on Thursday, hitting $52.96. The stock had a trading volume of 760,742 shares. Con-way has a one year low of $36.34 and a one year high of $52.87. The stock has a 50-day moving average of $50.04 and a 200-day moving average of $45.35. The company has a market cap of $3.046 billion and a price-to-earnings ratio of 27.89.
Con-way (NYSE:CNW) last announced its earnings results on Wednesday, July 30th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the 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 previous 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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