JPMorgan Chase & Co. Trims Saia (NASDAQ:SAIA) Target Price to $580.00

Saia (NASDAQ:SAIA) had its price objective trimmed by JPMorgan Chase & Co. from $676.00 to $580.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the transportation company’s stock.

A number of other analysts have also commented on the stock. The Goldman Sachs Group upped their price objective on shares of Saia from $504.00 to $567.00 and gave the company a neutral rating in a research note on Thursday, April 11th. TD Cowen reduced their price objective on shares of Saia from $528.00 to $473.00 and set a hold rating for the company in a research note on Monday. Bank of America reduced their price objective on shares of Saia from $645.00 to $484.00 and set a buy rating for the company in a research note on Monday. Susquehanna upped their price objective on shares of Saia from $500.00 to $625.00 and gave the company a positive rating in a research note on Thursday, February 8th. Finally, Benchmark upped their price objective on shares of Saia from $575.00 to $625.00 and gave the company a buy rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Saia currently has a consensus rating of Hold and an average target price of $497.22.

Saia Price Performance

Shares of NASDAQ SAIA opened at $396.00 on Monday. Saia has a twelve month low of $266.91 and a twelve month high of $628.34. The company has a current ratio of 1.23, a quick ratio of 2.01 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 1.35 and a beta of 1.62. The firm has a 50-day moving average of $560.37 and a two-hundred day moving average of $479.31.

Saia (NASDAQ:SAIA) last issued its quarterly earnings results on Friday, April 26th. The transportation company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.05). Saia had a net margin of 12.42% and a return on equity of 19.53%. The business had revenue of $754.80 million during the quarter, compared to analyst estimates of $772.36 million. During the same period in the previous year, the company posted $2.85 earnings per share. Saia’s revenue was up 14.3% compared to the same quarter last year. As a group, analysts expect that Saia will post 16.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Rohit Lal sold 2,870 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $536.55, for a total value of $1,539,898.50. Following the transaction, the vice president now owns 8,482 shares in the company, valued at $4,551,017.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Saia news, VP Raymond R. Ramu sold 1,943 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $565.83, for a total transaction of $1,099,407.69. Following the transaction, the vice president now owns 4,447 shares in the company, valued at $2,516,246.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Rohit Lal sold 2,870 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $536.55, for a total value of $1,539,898.50. Following the transaction, the vice president now owns 8,482 shares in the company, valued at approximately $4,551,017.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,699 shares of company stock worth $14,966,813. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Saia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its holdings in Saia by 26,722.4% during the fourth quarter. International Assets Investment Management LLC now owns 31,114 shares of the transportation company’s stock valued at $13,635,000 after purchasing an additional 30,998 shares during the last quarter. First Hawaiian Bank grew its holdings in Saia by 37.6% during the fourth quarter. First Hawaiian Bank now owns 7,560 shares of the transportation company’s stock valued at $3,313,000 after purchasing an additional 2,065 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Saia during the fourth quarter valued at approximately $3,287,000. Strs Ohio grew its holdings in Saia by 1.6% during the fourth quarter. Strs Ohio now owns 11,347 shares of the transportation company’s stock valued at $4,972,000 after purchasing an additional 179 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Saia by 65.9% during the fourth quarter. Jennison Associates LLC now owns 211,673 shares of the transportation company’s stock valued at $92,759,000 after purchasing an additional 84,046 shares during 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.