Bank of America Cuts Saia (NASDAQ:SAIA) Price Target to $600.00

Saia (NASDAQ:SAIA) had its price target cut by research analysts at Bank of America from $612.00 to $600.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price points to a potential upside of 22.65% from the stock’s previous close.

Several other research analysts have also recently issued reports on SAIA. Wolfe Research upgraded shares of Saia from a “peer perform” rating to an “outperform” rating and set a $511.00 price objective for the company in a report on Wednesday, October 9th. Jefferies Financial Group raised their target price on shares of Saia from $525.00 to $560.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Susquehanna reaffirmed a “neutral” rating and issued a $530.00 price target (down previously from $565.00) on shares of Saia in a report on Tuesday, January 7th. JPMorgan Chase & Co. raised their price objective on Saia from $499.00 to $566.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, The Goldman Sachs Group boosted their target price on Saia from $492.00 to $563.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Saia has an average rating of “Moderate Buy” and an average target price of $523.76.

Saia Stock Performance

SAIA traded up $5.00 during trading hours on Thursday, hitting $489.21. The company’s stock had a trading volume of 62,880 shares, compared to its average volume of 293,678. The company has a 50-day simple moving average of $509.17 and a 200 day simple moving average of $459.54. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $13.01 billion, a PE ratio of 34.96, a PEG ratio of 2.12 and a beta of 1.79. Saia has a fifty-two week low of $358.90 and a fifty-two week high of $628.34.

Saia (NASDAQ:SAIA) last issued its quarterly earnings results on Friday, October 25th. The transportation company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.53 by ($0.07). The business had revenue of $842.10 million for the quarter, compared to analyst estimates of $839.82 million. Saia had a net margin of 11.83% and a return on equity of 18.00%. Saia’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the business posted $3.67 earnings per share. As a group, sell-side analysts expect that Saia will post 13.49 EPS for the current year.

Insider Buying and Selling at Saia

In related news, EVP Rohit Lal sold 1,120 shares of Saia stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $560.00, for a total transaction of $627,200.00. Following the completion of the transaction, the executive vice president now directly owns 8,270 shares of the company’s stock, valued at $4,631,200. This trade represents a 11.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.30% of the company’s stock.

Institutional Trading of Saia

Hedge funds have recently modified their holdings of the company. UMB Bank n.a. grew its position in Saia by 1.0% during the 4th quarter. UMB Bank n.a. now owns 3,707 shares of the transportation company’s stock worth $1,689,000 after acquiring an additional 37 shares during the last quarter. Diversify Wealth Management LLC boosted its stake in Saia by 21.7% in the fourth quarter. Diversify Wealth Management LLC now owns 1,904 shares of the transportation company’s stock worth $858,000 after purchasing an additional 340 shares in the last quarter. Artemis Investment Management LLP grew its holdings in shares of Saia by 72.9% during the fourth quarter. Artemis Investment Management LLP now owns 249,782 shares of the transportation company’s stock worth $113,833,000 after purchasing an additional 105,356 shares during the last quarter. Oak Ridge Investments LLC grew its holdings in shares of Saia by 2.7% during the fourth quarter. Oak Ridge Investments LLC now owns 20,731 shares of the transportation company’s stock worth $9,448,000 after purchasing an additional 548 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its stake in shares of Saia by 4.4% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 6,783 shares of the transportation company’s stock valued at $3,091,000 after buying an additional 283 shares in the last quarter.

Saia Company Profile

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.