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

Saia (NASDAQ:SAIA) had its price target lowered by investment analysts at Bank of America from $600.00 to $565.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective would suggest a potential upside of 20.11% from the stock’s previous close.

Several other research firms have also weighed in on SAIA. Wolfe Research raised Saia from a “peer perform” rating to an “outperform” rating and set a $511.00 target price on the stock in a report on Wednesday, October 9th. Susquehanna reiterated a “neutral” rating and set a $530.00 target price (down previously from $565.00) on shares of Saia in a report on Tuesday, January 7th. Stifel Nicolaus boosted their price target on Saia from $443.00 to $529.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. increased their price objective on Saia from $499.00 to $566.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets boosted their target price on shares of Saia from $465.00 to $495.00 and gave the company a “market perform” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $525.59.

Saia Stock Down 2.0 %

Saia stock opened at $470.41 on Tuesday. The stock has a market capitalization of $12.51 billion, a price-to-earnings ratio of 33.60, a PEG ratio of 2.31 and a beta of 1.79. 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 stock has a 50 day moving average of $496.74 and a two-hundred day moving average of $461.67. Saia has a twelve month low of $358.90 and a twelve month high of $628.34.

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

Insider Transactions at Saia

In other news, EVP Rohit Lal sold 1,120 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $560.00, for a total value of $627,200.00. Following the completion of the sale, the executive vice president now owns 8,270 shares in the company, valued at approximately $4,631,200. This trade represents a 11.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Saia

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its stake in shares of Saia by 3.1% in the third quarter. State Street Corp now owns 805,597 shares of the transportation company’s stock worth $352,255,000 after acquiring an additional 24,351 shares in the last quarter. Wasatch Advisors LP increased its position in Saia by 10.2% in the third quarter. Wasatch Advisors LP now owns 692,405 shares of the transportation company’s stock worth $302,761,000 after buying an additional 64,351 shares during the period. Geode Capital Management LLC grew its position in Saia by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 471,667 shares of the transportation company’s stock worth $206,292,000 after purchasing an additional 6,456 shares during the last quarter. Westfield Capital Management Co. LP increased its position in Saia by 11.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 303,582 shares of the transportation company’s stock valued at $132,744,000 after acquiring an additional 31,991 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Saia by 4.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 261,803 shares of the transportation company’s stock valued at $116,670,000 after acquiring an additional 11,177 shares in the last quarter.

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.