Bank of America Has Lowered Expectations for Saia (NASDAQ:SAIA) Stock Price

Saia (NASDAQ:SAIA) had its price target decreased by Bank of America from $600.00 to $565.00 in a research report released on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

Several other analysts also recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Saia from $499.00 to $566.00 and gave the company an “overweight” rating in a report on Friday, December 6th. BMO Capital Markets increased their target price on Saia from $465.00 to $495.00 and gave the stock a “market perform” rating in a research note on Monday, October 28th. Stephens lifted their price target on Saia from $481.00 to $515.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Susquehanna restated a “neutral” rating and set a $530.00 target price (down from $565.00) on shares of Saia in a research report on Tuesday, January 7th. Finally, Citigroup dropped their target price on shares of Saia from $651.00 to $644.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. One equities research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $530.41.

Saia Price Performance

Shares of SAIA opened at $479.27 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 1.26. Saia has a 1-year low of $358.90 and a 1-year high of $628.34. The stock has a market cap of $12.74 billion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 2.31 and a beta of 1.79. The firm has a fifty day moving average price of $495.01 and a 200 day moving average price of $461.63.

Saia (NASDAQ:SAIA) last posted its quarterly earnings data on Friday, February 7th. The transportation company reported $2.84 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.03). The firm had revenue of $789.00 million during the quarter, compared to analyst estimates of $794.69 million. Saia had a net margin of 11.83% and a return on equity of 18.00%. Saia’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.33 earnings per share. As a group, sell-side analysts anticipate that Saia will post 13.47 EPS for the current year.

Insider Activity

In other news, EVP Rohit Lal sold 1,120 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $560.00, for a total value of $627,200.00. Following the completion of the transaction, the executive vice president now owns 8,270 shares of the company’s stock, valued at $4,631,200. The trade was a 11.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

Institutional Trading of Saia

Several hedge funds and other institutional investors have recently bought and sold shares of SAIA. Kestra Investment Management LLC acquired a new stake in shares of Saia during the fourth quarter worth $25,000. Paladin Wealth LLC purchased a new position in Saia during the third quarter worth about $40,000. Tobam purchased a new stake in Saia in the 3rd quarter valued at about $100,000. Blue Trust Inc. increased its stake in shares of Saia by 319.1% during the 3rd quarter. Blue Trust Inc. now owns 285 shares of the transportation company’s stock valued at $135,000 after acquiring an additional 217 shares during the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new position in shares of Saia during the 4th quarter worth about $154,000.

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.