Insider Selling: Con-way SVP Sells 7,000 Shares of Stock (CNW)
Con-way (NYSE:CNW) SVP Leslie P. Lundberg sold 7,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $52.13, for a total value of $364,910.00. Following the completion of the sale, the senior vice president now directly owns 35,290 shares in the company, valued at approximately $1,839,668. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Con-way (NYSE:CNW) traded up 0.38% 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’s 50-day moving average is $50.04 and its 200-day moving average is $45.35. The company has a market cap of $3.046 billion and a P/E ratio of 27.89.
Con-way (NYSE:CNW) last posted its quarterly 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. Analysts expect that Con-way will post $2.37 EPS for the current fiscal year.
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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target 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.
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