Citigroup Initiates Coverage on Saia (NASDAQ:SAIA)

Citigroup began coverage on shares of Saia (NASDAQ:SAIA) in a research note issued to investors on Wednesday, MarketBeat reports. The firm issued a buy rating and a $518.00 price target on the transportation company’s stock.

Other equities analysts have also recently issued reports about the company. Barclays lowered their price target on Saia from $575.00 to $515.00 and set an overweight rating for the company in a report on Monday, July 29th. Raymond James lowered their price target on Saia from $540.00 to $520.00 and set an outperform rating for the company in a report on Monday, June 24th. Wells Fargo & Company increased their price target on Saia from $400.00 to $410.00 and gave the stock an equal weight rating in a report on Thursday, September 5th. Bank of America increased their price target on Saia from $443.00 to $460.00 and gave the stock a buy rating in a report on Thursday, September 5th. Finally, BMO Capital Markets lowered their price target on Saia from $500.00 to $480.00 and set a market perform rating for the company in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $492.00.

Saia Stock Up 5.1 %

Shares of NASDAQ:SAIA opened at $463.37 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $410.48 and a two-hundred day moving average of $447.36. The stock has a market cap of $12.32 billion, a P/E ratio of 32.61, a PEG ratio of 2.11 and a beta of 1.74. Saia has a 52-week low of $341.26 and a 52-week high of $628.34.

Saia (NASDAQ:SAIA) last issued its earnings results on Friday, July 26th. The transportation company reported $3.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.00 by ($0.17). The company had revenue of $823.24 million during the quarter, compared to analysts’ expectations of $821.60 million. Saia had a net margin of 12.26% and a return on equity of 19.14%. On average, research analysts expect that Saia will post 13.94 earnings per share for the current year.

Institutional Investors Weigh In On Saia

Hedge funds have recently bought and sold shares of the stock. Pineridge Advisors LLC acquired a new stake in Saia in the 4th quarter valued at about $26,000. Blue Trust Inc. raised its position in Saia by 161.5% in the 2nd quarter. Blue Trust Inc. now owns 68 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 42 shares in the last quarter. Rise Advisors LLC acquired a new stake in Saia in the 1st quarter valued at about $40,000. Quarry LP acquired a new stake in Saia in the 2nd quarter valued at about $41,000. Finally, International Assets Investment Management LLC acquired a new stake in Saia in the 2nd quarter valued at about $42,000.

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.