Saia (NASDAQ:SAIA) Price Target Cut to $484.00 by Analysts at Bank of America

Saia (NASDAQ:SAIA) had its price target cut by Bank of America from $565.00 to $484.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other research firms also recently issued reports on SAIA. Citigroup decreased their price objective on shares of Saia from $544.00 to $498.00 and set a “buy” rating for the company in a research note on Tuesday. Stephens restated an “overweight” rating and issued a $600.00 target price on shares of Saia in a research note on Thursday, February 6th. Susquehanna upped their target price on shares of Saia from $530.00 to $540.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Raymond James decreased their target price on shares of Saia from $560.00 to $540.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group upped their target price on shares of Saia from $492.00 to $563.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $527.65.

Saia Price Performance

SAIA opened at $395.19 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 0.08. Saia has a 52-week low of $358.90 and a 52-week high of $628.34. The company has a 50 day moving average of $467.30 and a two-hundred day moving average of $468.40. The company has a market cap of $10.52 billion, a P/E ratio of 29.25, a P/E/G ratio of 2.24 and a beta of 1.79.

Saia (NASDAQ:SAIA) last released its quarterly earnings data on Friday, February 7th. The transportation company reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.03). Saia had a return on equity of 16.63% and a net margin of 11.28%. The business had revenue of $789.00 million for the quarter, compared to analysts’ expectations of $794.69 million. During the same quarter in the prior year, the firm earned $3.33 earnings per share. Saia’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts expect that Saia will post 15.46 earnings per share for the current year.

Insider Activity at Saia

In other news, CEO Frederick J. Holzgrefe III sold 7,534 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $487.34, for a total value of $3,671,619.56. Following the transaction, the chief executive officer now directly owns 17,645 shares in the company, valued at approximately $8,599,114.30. This trade represents a 29.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Patrick D. Sugar sold 799 shares of Saia stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $493.74, for a total transaction of $394,498.26. Following the completion of the sale, the executive vice president now owns 8,629 shares in the company, valued at approximately $4,260,482.46. This represents a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,493 shares of company stock valued at $4,646,181 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of Saia

Several hedge funds have recently bought and sold shares of SAIA. Vanguard Group Inc. increased its stake in Saia by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 2,522,938 shares of the transportation company’s stock valued at $1,149,779,000 after buying an additional 25,090 shares during the period. Alliancebernstein L.P. increased its stake in Saia by 69.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,939,615 shares of the transportation company’s stock valued at $883,941,000 after buying an additional 794,197 shares during the period. State Street Corp increased its stake in Saia by 3.1% during the 3rd quarter. State Street Corp now owns 805,597 shares of the transportation company’s stock valued at $352,255,000 after buying an additional 24,351 shares during the period. Wasatch Advisors LP increased its stake in Saia by 10.2% during the 3rd quarter. Wasatch Advisors LP now owns 692,405 shares of the transportation company’s stock valued at $302,761,000 after buying an additional 64,351 shares during the period. Finally, Geode Capital Management LLC increased its stake in Saia by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 471,667 shares of the transportation company’s stock valued at $206,292,000 after buying an additional 6,456 shares during the period.

About Saia

Saia, Inc, together with its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.