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Type
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Public |
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Traded as | NYSE: CNW |
Industry | Transportation, distribution |
Founded | Portland, Oregon (1929) as Consolidated Truck Lines |
Headquarters | Ann Arbor Charter Township, Michigan |
Key people
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Leland James (Founder) Douglas W. Stotlar (President & CEO) |
Products | Less than truckload shipping Full truckload freight Warehousing Logistics services Supply-chain management |
Revenue | ![]() |
Operating income
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Net income
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Number of employees
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27,900 (December 2010) |
Subsidiaries | Con-way Freight Menlo Worldwide Logistics Con-way Truckload |
Website | Con-way.com |
Con-way, Inc. (NYSE: CNW) was an American multinational freight transportation and logistics company headquartered in Ann Arbor, Michigan, United States. With annual revenues of $5.5 billion, Con-way was the second largest less-than-truckload transport provider in North America, with additional operations for global contract logistics, managed transportation, truckload and freight brokerage. The company's services were sold through its primary operating companies of Con-way Freight, Con-way Truckload and Menlo Worldwide. These operating units provided less-than-truckload (LTL), full truckload and multimodal freight transportation, as well as logistics, warehousing and supply chain management services. Con-way, Inc. and its subsidiaries operated from more than 500 locations across North America and in 20 countries.
On September 9, 2015, Con-way announced it was being acquired by XPO Logistics. The sale was completed on October 30, 2015.
Con-way's heritage dated from 1929, when industry pioneer Leland James founded an intercity trucking company in Portland, Oregon. Initially named Consolidated Truck Lines, the company grew from a one-truck operation into one of the largest long-haul carriers in the United States by the early 1980s, and became one of the few freight transportation firms to originate in the West and successfully expand eastward. Consolidated headquarters were moved to the San Francisco Bay Area in the 1950s.
In 1996, Consolidated's unionized long-haul trucking company, CF MotorFreight, was spun off as Consolidated Freightways, Inc., creating two separate publicly traded companies. Consolidated Freightways, Inc. was renamed CNF Transportation, Inc., reflecting the familiar stock ticker symbol of the company (CNF).
Consolidated Freightways Corporation filed for Chapter 11 bankruptcy on September 3, 2002, and ceased operations.
In 2006, the CNF Transportation changed its name to Con-way, Inc, and the company's NYSE stock ticker was changed from CNF to CNW.
In 2007, Con-way acquired Contract Freighters, Inc. (CFI), a privately held North American truckload carrier based in Joplin, Missouri, in a transaction valued at $750 million. Founded in 1951, CFI operated more than 2,600 tractors and more than 7,000 trailers, with more than 3,000 employees including approximately 2,500 drivers that serve customers throughout North America.
Con-way moved its headquarters from San Mateo, California to Ann Arbor, Michigan in 2011.
On September 9, 2015, Con-way announced it was being acquired by XPO Logistics, and the sale was completed on October 30, 2015.
Con-way, Inc. was the parent company for five wholly owned subsidiaries:
Con-way freight provided less-than-truckload service across North America.
Con-way Truckload provided full truckload shipping across the United States, Mexico and Canada.
Con-way Enterprise Services was the administrative and information technology division of Con-way, Inc., and was based in Portland, Oregon.
Menlo Worldwide Logistics designed and implemented logistics solutions across the globe.
Con-way Manufacturing, formerly Road Systems, Inc., was a trailer refurbishing and manufacturing company that supplied trailing equipment to the company’s trucking fleets.
2015-10-20 | Downgrade | Buckingham Research | Buy to Neutral | |
2015-10-08 | Boost Price Target | Credit Suisse | $40.00 to $48.00 | |
2015-10-08 | Boost Price Target | Credit Suisse Group AG | $40.00 to $48.00 | |
2015-09-14 | Downgrade | Stifel Nicolaus | Buy to Hold | |
2015-09-10 | Reiterated Rating | Deutsche Bank | Hold | $43.00 to $48.00 |
2015-09-10 | Boost Price Target | Susquehanna | Neutral | $43.00 to $48.00 |
2015-09-10 | Downgrade | Raymond James | Outperform to Market Perform | |
2015-09-10 | Reiterated Rating | Deutsche Bank AG | Hold | $43.00 to $48.00 |
2015-09-10 | Downgrade | Raymond James Financial Inc. | Outperform to Market Perform | |
2015-08-18 | Initiated Coverage | Evercore ISI | Buy | $44.00 |
2015-07-31 | Reiterated Rating | Credit Suisse | Hold | $38.00 to $40.00 |
2015-07-30 | Reiterated Rating | Cowen and Company | Market Perform | $45.00 to $41.00 |
2015-07-30 | Lower Price Target | Stifel Nicolaus | Buy | $46.00 to $45.00 |
2015-07-09 | Reiterated Rating | Citigroup Inc. | Hold | $45.00 to $41.00 |
2015-07-09 | Downgrade | Credit Suisse | Outperform to Neutral | $47.00 to $38.00 |
2015-05-29 | Downgrade | Bank of America | Neutral to Underperform | $46.00 to $42.00 |
2015-05-29 | Downgrade | Bank of America Corp. | Neutral to Underperform | $46.00 to $42.00 |
2015-05-09 | Reiterated Rating | Susquehanna | Neutral | $47.00 to $45.00 |
2015-05-09 | Reiterated Rating | Stifel Nicolaus | Buy | $53.00 to $50.00 |
2015-03-27 | Initiated Coverage | Macquarie | Outperform | |
2015-03-26 | Upgrade | Stifel Nicolaus | Hold to Buy | $53.00 |
2015-02-06 | Boost Price Target | Deutsche Bank | Hold | $54.00 to $55.00 |
2015-01-15 | Reiterated Rating | Deutsche Bank | Hold | $47.00 to $54.00 |
2014-12-10 | Initiated Coverage | Nomura | Neutral | $51.00 |
2014-12-10 | Initiated Coverage | Nomura Holdings Inc. | Neutral | $51.00 |
2014-10-31 | Reiterated Rating | Credit Suisse | Outperform | $51.00 to $48.00 |
2014-10-31 | Reiterated Rating | Citigroup Inc. | Neutral | $51.00 to $45.00 |
2014-10-31 | Lower Price Target | Cowen and Company | Market Perform | $54.00 to $47.00 |
2014-10-14 | Reiterated Rating | Deutsche Bank | Hold | $47.00 to $45.00 |
2014-10-01 | Reiterated Rating | Citigroup Inc. | Neutral | $55.00 to $51.00 |
2014-10-01 | Reiterated Rating | Bank of America | Neutral | $56.00 to $52.00 |
2014-09-16 | Downgrade | Cowen and Company | Outperform to Market Perform | $57.00 to $54.00 |
2014-09-16 | Downgrade | Robert W. Baird | Outperform to Neutral | $55.00 |
2014-09-08 | Boost Price Target | Goldman Sachs | $47.00 to $53.00 | |
2014-09-08 | Boost Price Target | Goldman Sachs Group Inc. | $47.00 to $53.00 | |
2014-08-01 | Boost Price Target | Deutsche Bank | $45.00 to $47.00 | |
2014-07-31 | Reiterated Rating | Citigroup Inc. | Neutral | $52.00 to $55.00 |
2014-07-31 | Reiterated Rating | Bank of America | Neutral | $54.00 to $56.00 |
2014-07-11 | Boost Price Target | Credit Suisse | $48.00 to $51.00 | |
2014-07-11 | Downgrade | Citigroup Inc. | Buy to Neutral | $48.00 to $52.00 |
2014-07-08 | Boost Price Target | Robert W. Baird | $48.00 to $54.00 | |
2014-07-07 | Boost Price Target | Deutsche Bank | Hold | $43.00 to $45.00 |
2014-07-02 | Boost Price Target | Cowen and Company | $48.00 to $53.00 | |
2014-06-13 | Upgrade | Wunderlich | Hold to Buy | $44.00 to $57.00 |
2014-05-02 | Boost Price Target | Wunderlich | Hold | $40.00 to $44.00 |
2014-05-01 | Reiterated Rating | Citigroup Inc. | Buy | $48.00 |
2014-05-01 | Upgrade | Bank of America | Underperform to Neutral | |
2014-04-09 | Boost Price Target | Robert W. Baird | $47.00 to $48.00 | |
2014-02-19 | Downgrade | Wunderlich | Buy to Hold | $49.00 to $40.00 |
2014-02-07 | Lower Price Target | Deutsche Bank | $45.00 to $43.00 | |
2014-01-17 | Lower Price Target | JPMorgan Chase & Co. | $45.00 to $40.00 | |
2014-01-10 | Upgrade | Wells Fargo & Co. | Market Perform to Outperform | |
2014-01-10 | Upgrade | Wells Fargo | Market Perform to Outperform | |
2014-01-06 | Downgrade | Bank of America | Buy to Underperform | |
2013-12-16 | Downgrade | Deutsche Bank | Buy to Hold | $46.00 to $45.00 |
2013-11-01 | Lower Price Target | Deutsche Bank | Buy | $49.00 to $46.00 |
2013-11-01 | Lower Price Target | Credit Suisse | Outperform | $48.00 to $45.00 |
2013-11-01 | Lower Price Target | Cowen and Company | Outperform | $49.00 to $45.00 |
2013-11-01 | Upgrade | Buckingham Research | Neutral to Buy | |
2013-08-02 | Reiterated | Wunderlich | Buy | $45 to $49 |
2013-05-21 | Upgrade | Wunderlich | Hold to Buy | $37 to $45 |
2013-05-16 | Upgrade | BB&T Capital Mkts | Underweight to Hold | |
2013-05-02 | Reiterated | Cowen | Buy | $40 to $39 |
2013-04-10 | Reiterated | Deutsche Bank | Buy | $43 to $46 |
2013-03-20 | Reiterated | Wunderlich | Hold | $34 to $37 |
2013-03-01 | Downgrade | Stifel | Buy to Hold | |
2013-02-08 | Reiterated | Wunderlich | Hold | $29 to $34 |
2012-12-17 | Downgrade | BB&T Capital Mkts | Hold to Underweight | |
2012-10-05 | Initiated | Wunderlich | Hold | $32 |
2012-08-16 | Initiated | Longbow | Neutral | |
2012-07-30 | Upgrade | Robert W. Baird | Neutral to Outperform | $42 to $43 |
2012-05-03 | Reiterated | Dahlman Rose | Buy | $35 to $41 |
2012-01-09 | Downgrade | BB&T Capital Mkts | Buy to Hold | |
2011-11-07 | Reiterated | Deutsche Bank | Buy | $28 to $32 |
2015-10-20 | Downgrade | Buckingham Research | Buy to Neutral | |
2015-10-08 | Boost Price Target | Credit Suisse | $40.00 to $48.00 | |
2015-10-08 | Boost Price Target | Credit Suisse Group AG | $40.00 to $48.00 | |
2015-09-14 | Downgrade | Stifel Nicolaus | Buy to Hold | |
2015-09-10 | Reiterated Rating | Deutsche Bank | Hold | $43.00 to $48.00 |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In CNW 4 funds of 2213 total. Show all
Fund name | Ticker shares |
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MANAGED ACCOUNT ADVISORS LLC | 0.20M |
CATAPULT CAPITAL MANAGEMENT LLC | 0.14M |
VTL Associates, LLC | 21203 |
NEW ENGLAND SECURITIES CORP /MA/ | 45 |
Name Relationship | Total Shares | Holding stocks |
---|---|---|
Lehmkuhl Walter G EVP & President | 0.08% (47355) | CNW / |
Gonzalez Saul Executive Vice President | 0.04% (20516) | CNW / |
Anton John James | 0.02% (9903) | CNW / |